Stock futures attempting to extend the bullish movement

Traders and investors seem to shrug off a slew of bearish sentiment in the market and start bringing the market up. However, the market attention mostly will focus on the Fed Jerome Powell commentary this week also the job data release. Most traders and investors expect bearish months in March and April before the start of the new bullish trend. It might be better to stay sideline and wait for the bearish movement to enter at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index bounced from the 32,500 level and start moving upward again. The pair might extend the bullish movement to target the top trendline. Under the current situation, it seems the consolidation between the daily SMA 200 and the top trendline will continue. Traders could continue to use the range for range trading strategies.

World Wrestling Entertainment (WWE)

WWE share prices are decreasing and will test the daily SMA 50 & 100. Traders could continue to use both levels as places to enter long positions. Most of the bounces in the past happens near the averages. On the lower side, traders could place a stop level below the daily SMA 100. If traders plan to hold long-term then the daily SMA 200 is the best level to enter long positions.