U.S stock futures are under bearish pressure as Disney slip

DIS share prices fall nearly 5% before the opening bell after the company experience lower growth on their streaming subscription due to higher prices. Aside from the Disney bearish sentiment, banking sectors’ woe is set to continue as Pacwest Bancorp becomes the latest trouble bank to focus. Traders will continue to stick with May’s motto to sell in May and go away. We think there will be a chance to enter long positions at a lower level or better price this month.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index consolidating between the daily SMA 200 and the top trendline. No change to the situation of the index yet since the last month and traders will continue waiting for a breakout from the range. It seems the next higher high or lower low will determine the index direction. We might not see major movement until the third half of this year or until U.S. debt-ceiling decision.

Crocs Inc (CROX)

CROCS share prices managed to print a new higher swing high but undergo massive bearish pressure. The share prices bounced from the level near the daily SMA 200 and currently trade near the daily SMA 100. We might see the price consolidating between the $110.00 – $130.00 range while waiting for the next directions. If the share prices could continue the bullish movement with strong momentum then there is a chance of long-term bullish continuation.