U.S stock futures on the bearish side as the market waiting for the Fed

Today the Fed FOMC meeting might trigger big volatility in the market. Traders and investors are anxious about the increase of the U.S 10-year Treasury yield. It could signal the end of accommodative policies by the Fed and might start a tapering or higher interest-rate environment.

Traders might want to monitor closely the FOMC meeting and decide what to do after the announcement.

Asian & European Stock market

The Asian stock market mixed today. Japan stock market down 6.76 points (-0.02%) to 29,914.33, China stock down 1.18 points (-0.03%) to 3,445.55 and Australia ASX 200 down 31.90 points (-0.47%) to 6,795.20 . The European stock market mostly lower. DAX Germany down 0.01%, UK FTSE down 0.34%, and Euro Stoxx600 down 0.21%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index formed a bearish close after streak of bullish closes. The index might trade lower depend on the FOMC meeting result today. If a bearish correction happens then the DJIA index is set to target 29,000 and 30,000 support levels. At the current time, traders will wait for the actual announcement and monitor the market reaction after it.

Abbot Laboratories Com (ABT)

ABT share prices are moving in a bullish trend inside the channel. The recent bearish correction has brought the share prices down toward the daily SMA 50 and the bottom of the channel. Traders could use both support levels as a reference level to enter long positions.

First Solar Inc (FSLR)

FSLR share prices made a significant bearish correction after a prolonged bullish trend. The share prices managed to close below daily SMA 200 and return above it. At the current time, there is a horizontal level to watch. If FSLR could build more bullish momentum and launch upward then the bullish trend is expected to continue. Traders could use the daily SMA 200 as level to enter long positions.