Stock futures trade lower before the opening bell

The stock market set for bearish movement at the opening as DJIA futures lower 142 points at the current time. Traders reacted bearishly toward the talk between Russia – Ukraine. It seems no near solution to the current war situation. Meanwhile, the Fed has cleared doubt on the interest-rate plan this year. The central bank expected 6 more rate hikes this year. The market reacted positively after several months of bearish pressure.

Despite the current bullish reaction, the long-term situation is bearish as rate-hike planned which suggests traders stay cautious when taking long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA started a bullish correction with the top trendline as a target. The same strategy as before, traders will wait for reaction near the top trendline to determine the index’s next direction. If the index gets rejected with strong bearish momentum then the direction will continue bearish. At the current time, DJIA futures are lower by 142 points which indicates a lower opening. We think the index could reverse the direction anytime but open for upward movement up to the daily SMA 200.

Lockheed Martin Corp (LMT)

LMT share prices launched upward with strong bullish momentum as war break out between Russia – Ukraine. At the current time, negotiations are in progress and LMT start moving lower. Traders could observe the share prices reaction near the horizontal level around $400.00 for a chance to enter long positions.