Stock futures are under pressure as the market awaits the FOMC minute of meeting

The market situation continues pessimistic as traders and investors brace for earnings results and the Fed update. There is a release of the FOMC minutes of the meeting today. Not much change is expected, the market currently expects the Fed to become more aggressive on tapering or interest-rate hikes to battle rising inflation numbers.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index managed to shrug bearish pressure yesterday and secured a bullish close. However, the index futures currently point lower than 145 points and indicate another bearish test. Technically, the current level is the first resistance level to watch. On the upside, the level around 32,500 will become the major resistance level for a bearish reversal.

Verizon Communications Com (VZ)

VZ share prices are in a bullish correction and currently trading at the daily SMA 50. Aside from the averages, it is moving at the $50.00 – $51.00 area where the previous support area present. A rejection from the area might confirm the continuation of the bearish trend. On the other hand, if the share prices continue the upward movement then it might target the daily SMA 100 & 200.