DJIA futures jump more than 300 points, Russia – Ukraine negotiation, the Fed FOMC under focus

Traders and investors continue watching the situation between Russia – Ukraine. Negotiations continue between the two sides but invasion also continues. Aside from the war situation, traders will monitor closely the FOMC meeting this week. Previously, the Fed expected to raise interest-rate and project a more aggressive rate hike this year as inflation rose.

However, the tone of the central bank started to shift after the war situation. The market situation will depend on how the Fed reacts to the current war situation and the looming high inflation environment.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is on the path lower between the two trendlines. Each bounce might get a bearish rejection from the top trendline and traders will avoid long positions for now until breakout above the trendline. No change to the situation yet, this week there is a possibility an upward movement will happen but the market will stay cautious ahead of the Fed FOMC meeting.

World Wrestling Entertainment (WWE)

WWE share prices rally above the daily SMA 200 and started a bearish correction. It is a chance for traders to enter long positions when tests on the daily SMA 200 happen. At the current time, traders will wait for further bearish correction and enter long positions on the bullish reaction from the averages.