Stock futures under pressure after yesterday strong performance

DJIA futures lower 150 points at the current time, indicating a weak opening. Traders and investors seem will assess the increasing yield situation for now. Analysts think that the current increasing yield shows optimism that the economy is growing, instead of driven by inflation.

Despite the situation, it is better to wait and see while monitoring how the yield change until the next FOMC meeting.

Asian & European Stock market

The Asian stock market mostly lower. Japan stock market down 255.33 points (-0.86%) to 29,408.17, China stock down 42.81 points (-1.21%) to 3,508.59 and Australia ASX 200 down 27.30 points (-0.40%) to 6,762.30 . The European stock market also trade lower. DAX Germany down 0.08%, UK FTSE down 0.01%, and Euro Stoxx600 down 0.04%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index bounce from the daily SMA 50 to start the March trading month with a strong gain. The upward movement of the index technically might extend to print a new all-time high. However, traders might want to be careful of deeper bearish correction toward 29,000 – 30,000 area.

Amerisourcebergen Corporation (ABC)

ABC share prices printed a higher high and started a bearish correction. The bearish correction currently reaches the cluster of averages. As long as the share prices could maintain the positions above daily SMA 200 then traders will expect a bullish bounce to happen.