U.S stock futures bounced at the end of the week

The stock market has been battered by bearish pressure which caused by President Trump tariff war. No bullish sign until today, especially after the S&P500 down 10% from the top and Nasdaq down 14%. It seems a bullish correction is underway before next week FOMC meeting. At the current time, the market placing bet that the Fed will start cutting interest-rate again three times this year.

If the Fed decide to turn dovish then we might see short-medium term bounce in the stock market.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has not shown any bullish sign even though it is under the daily SMA 200. The index bearish situation might end soon as FOMC meeting loom. Some bullish correction could happen toward daily SMA 200. After that, the market will wait for more confirmation. A consolidation could happen near the daily SMA 200.

Applovin Corporation (APP)

APP share prices moving lower since the $520.00 top. It is currently set at $272.00 or nearly half from the top. In the last bearish move, the share prices bounced from the $240.00 level but not closing the gap yet. If the share prices move upward, then the daily SMA 100 might become the target and place where it reverses downward. On the lower side, there is chance that the share prices will close the gap and consolidate near the daily SMA 200.