Stock futures were slightly higher before the midterm election result and CPI data
Today trading session might show high volatility movement as traders and investors are awaiting the announcement of the U.S midterm election results and the CPI data. On the inflation ground, the market is expecting higher than expected inflation numbers where a bearish close happened yesterday. If the number comes out lower than expected then we will see a continuation of bullish movement. Meanwhile, a hotter-than-expected inflation number is a major bearish continuation confirmation.
Dow Jones Industrial Average (INDU)
DJIA index is moving inside the 32,500 – 33,250 area right now. The index has reached the top of the range and we have a bearish reaction. Despite the situation, there is no close outside of the range yet. Today CPI data might become the driver of the index movement. If the index closes below the range and below the daily SMA 200 then we might see a new bearish leg.
World Wrestling Entertainment (WWE)
WWE share prices made a bearish correction from the $79.83 or the $80.00 level. The price has reached the daily SMA 50 and shows bounce reactions. Despite the situation, we might see another bearish attempt to bring the share prices lower. Traders could wait near the daily SMA 100 where there are at least 3 bounces in the past to continue the bullish trend.