U.S. stock futures mixed ahead of the FOMC meeting

The time is ticking toward the Fed FOMC meeting today. Traders and investors are expecting the Fed will stop its rate-increase policy this year as inflation numbers continue moving lower. When the Fed announces the stop of rate-hike then we might see the start of a bullish trend in the stock market. As mentioned before, traders will continue to aim for more long positions when a bearish correction happens in the stock market. It might be best to wait for the announcement and market reactions before entering major positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index extended the bullish movement after the CPI data release. The situation looks bullish before the Fed FOMC meeting this week. Traders will observe the index reaction after the FOMC meeting to confirm the next direction. If the index could add more bullish gain and print a new higher swing high then the trend will turn bullish. However, a bearish correction could happen to retest the broken trendline. Traders could wait near the trendline for a chance to enter more long positions after a higher swing high printed.

Halliburton Co Com (HAL)

HAL share prices are in a bearish trend as the share prices continue printing a new lower low and lower high. At the current time, the share prices undergo a bullish correction and managed to reach a cluster of averages. If the share prices get rejected and resume the bearish movement then we will have a lower swing high printed. On the other hand, if a bullish breakout happens and the share prices could print a new higher swing high then the trend might turn bullish.