U.S stock market climb before FOMC meeting

The bearish sentiment after escalation of Israel-Iran conflict managed to push the market lower. However, it seems traders are focusing on the Fed interest-rate decision today. We might see some upward movement, but be cautious, as the Fed might hold interest-rate steady and there is nothing changed. It might be better for traders to wait until the announcement to determine the next short-term direction.

Dow Jones Industrial Average (INDU)

DJIA index continue moving near the daily SMA 200 just before the FOMC meeting today. The next direction will depend on the market reaction after the news. If the index turn lower, then the 40,000 level is the support level to watch. On the upside, if the index resumes the bullish trend, then it will target a new record high.

Kroger Company (KR)

KR share prices is currently undergoing a bearish correction. Ideally, the share prices continue the downward movement and reach daily SMA 200 or the 50% Fibonacci Retracement level. If there is bounce reaction near both levels, traders could use it as a signal to enter long positions. On another note, taking long positions near the current level might also a good option.