US Stock Market Technical Analysis | November 10, 2021

Stock futures slightly lower ahead of inflation data

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The DJIA futures are lower than 60 points before the market open. Traders and investors are focusing on the inflation data released today. CPI is expected to increase 0.6% m/m while core CPI is expected to increase 0.4%. Higher than expected inflation number could trigger bearish sentiment in the market as it might speed up tapering by the Fed.

Meanwhile, the market is supported by strong earnings results but when the earnings season nears the end, we might see a pullback in the stock market.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hanging near record high and might continue printing new record high as earnings season continue. The index futures currently lower 60 points which indicate a lower opening. If the bearish correction happens then traders can prepare near the horizontal level for a possible bounce

World Wrestling Entertainment (WWE)

WWE share prices have returned above the daily SMA 200 and rallied above it before starting a bearish correction. The current bearish correction has brought the pair down to the daily SMA 50. It might continue lower to test the daily SMA 100 & 200. Traders could use the moment to enter a long position when there is a bullish reaction.

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