Stock futures under pressure as Russia March on Ukraine capital

DJIA futures are lower by 242 points at the current time as Russia continues its march on Ukraine’s capital. The stock market situation will continue depending on the Russia – Ukraine situation. Aside from that, traders will prepare for Jerome Powell’s speech this week. There is a plan for more stimulus to support Ukraine which might put the Fed interest-rate hike under question.

Traders will focus on job data too at the end of this week to get a clue on the economic development before this month’s rate decision.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index bounced from the bottom trendline. The upward movement might be a temporary relief movement only. Traders will prepare near the resistance trendline for the possibility of bounce and bearish continuation. On the upside, there is daily SMA 200 to watch too. As long as the index stays below SMA 200 and the trendline, the trend will continue to bearish.

Las Vegas Sands (LVS)

LVS share prices managed to breakout above the daily SMA 200 and printed a higher swing high. At the current time, the share prices undergo a bearish correction and are traded near the daily SMA 200. If the share prices could bounce from the averages or the bottom trendline then it could continue the current bullish movement.

On the other hand, a breakout below both averages and trendline could bring the share prices back to a bearish trend.