Stock futures trading upward set to snap weekly losing streak

DJIA futures are currently higher by 108 points and indicate a bullish opening. The bullish pressure resulted from the softer inflation numbers report today. Traders will stay cautious about possible sudden bearish reversal despite the bullish situation. Next week job data will come under focus and the DJIA index might close the week near the 32,500 – 33,000 area.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index started a bullish correction and might extend the upward movement toward the cluster of averages or the 34,000 handles. Traders might want to observe the current correction movement and determine where a bearish reversal might happen. There is no conclusion yet on where the index will move, but technically, the index needs to print a higher swing high to cancel the current bearish trend.

Yum Brands Inc (YUM)

YUM share prices are building bullish pressure and currently trading at the daily SMA 50. The share prices might attempt to continue the upward movement to test the daily SMA 200. Traders will monitor the share price reaction near the resistance levels. At the current time, the trend has not turned bullish yet as the share prices continue printing a lower high and lower low.

A movement above $127.5 will become the initial confirmation of a bullish reversal.