Stock futures were neutral on the last trading week of June

The stock market situation is mostly neutral at the beginning of this week. Traders and investors are assessing the market situation after the Fed FOMC meeting this month. It seems the situation is a stalemate with the Fed keep saying there will be 2 more rate-hike this year. Meanwhile, inflation numbers continue to cool and signal different actions might be taken by the Fed. Despite the situation, traders will focus also on the situation in Europe where inflation continues to stay high.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index experience more bearish pressure and closed near the trendline last week. If the index continues the bearish movement then it will return to consolidation between the daily SMA 200 and the trendline. On the other hand, if the index could bounce from the current level then the bullish trend could continue. Traders will monitor closely the index reactions this week to determine the next direction.

International Business Machine (IBM)

IBM share prices broke its bearish trend and climb above the daily SMA 200. In the previous bullish attempt, the share prices printed a new higher swing high which confirm a trend reversal. At the current time, the price is moving lower to retest the broken averages. If the share prices could bounce from the cluster of averages then we will see a new higher swing low and continuation of the bullish trend.