Stock futures are slightly lower ahead of the U.S job data

The prospect of a longer higher interest rate has brought fear to the market. Traders and investors are fretting over the Fed’s comment on the high-interest rate. If tomorrow’s job data show strong numbers again then traders will expect more bearish pressure on the stock market.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index moved lower and tested the 32,500 level again yesterday. No breakout and close outside of the 32,500 – 33,250 area yet. At the current time, the consolidation inside the area will continue and traders will wait for the close outside of the range to confirm the next direction. A close below 32,500 and the daily SMA 200 will bring the price further lower. Meanwhile, a close above 33,250 will extend the consolidation between the daily SMA 200 and the top trendline.

Shopify Inc (SHOP)

SHOP share prices moved between $30.00 – $ 40.00 for several months before a bullish breakout happen. The share prices currently attempting to continue moving upward after the bounce from the $40.00 handle. Traders could use the moment to enter long positions and ride the new bullish trend. If the share prices move lower toward the $30.00 – $40.00 area again, then it is a chance for traders to continue accumulating.