Stock futures are slightly higher to kickstart the March trading month

U.S stock market might set a bullish attempt at the beginning of March after the previous month’s bearish performance. However, traders might want to stay cautious and prepare for further weakness until the March-April earnings release. We might see the bearish pressure continue for the first half of this year before an actual trend reversal happen.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is mostly lower and set to continue the bearish movement toward the daily SMA 200. Traders will wait for the test on the averages. If a bearish breakout and a new lower low are printed then the bearish trend will continue this year. On the other hand, if the index could maintain its position above the daily SMA 200 and bounce from it then the consolidation between SMA 200 & trendline will continue.

Marvell Technology Inc (MRVL)

MRVL share prices trading near the daily SMA 200 and will attempt to break out above it. If a bullish breakout happens then $50.00 is the resistance level to watch. On the lower side, $40.00 and the cluster of averages will become the support levels to watch. A close either below $40.00 or above $50.00 might determine the share prices’ next long-term trend.