U.S stock futures flat, nearing the Fed FOMC meeting

The Asian stock market is mostly lower today as fear of the real-estate sector reemerges. The situation cautious situation might continue this week as traders and investors also awaiting the Fed FOMC meeting result. There is no change to the outlook yet, traders might want to continue to stay sideline, for now, digest the Fed rate decision and future policies to get a clue on the next direction.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed a new record high yesterday and is set to continue its upward movement. The same as previous analysis, there is no reason to turn bearish yet as the index will continue moving upward. However, this week’s FOMC meeting might trigger major volatility in the index and traders must prepare cautiously against it.

Schlumberger Limited (SLB)

SLB share prices bounced from the daily SMA 200 in the previous consolidation near it. The share prices seem will start a bearish correction to retest the cluster of averages and the horizontal level shown on the chart. Traders will use the chance to enter long positions when a retest happens and followed by a bullish bounce.