Stock futures are slightly lower ahead of the Fed decision

Traders and investors are focusing on the Fed FOMC meeting this week. The Fed expected to keep interest-rate steady and provide guidance on when interest-rate cut will happen this year. However, rising inflation in recent data could hinder the Fed from starting the interest-rate cuts. At the current time, it is better to await the actual announcement and the market reactions to determine what will happen next.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has been trading sidewayss before the Fed FOMC meeting. The index situation will depend on the reactions after the FOMC meeting. Will the index immediately continue the bullish trend and print a new record high? Alternatively, will it start another bearish correction and test the 37,750 – 38,000 area? Nevertheless, traders will continue use each bearish correction as chance to add more long positions.

Marvell Technology (MRVL)

MRVL share prices traded upward with strong bullish momentum and reached as high as $85.76 before starting a bearish retracement. The bearish retracement has erased all of the bullish movement and might continue downward to test the daily SMA 200. If the share prices could maintain the positions above the horizontal level or the cluster of averages then traders could add long positions assuming that the bullish trend will continue.