Stock futures slightly lower after bond yield rises again

The stock market situation seems bearish again as bond yields start to rise again. At the current time, traders will wait for a bearish pullback in the stock market for a chance to accumulate more long positions. No change to the bullish outlook for long term, each bearish correction is a chance for traders to enter more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index was rejected from the daily SMA 200 and fell with moderate bearish momentum. A bearish correction is expected and traders will wait for bullish reactions near the support level. When the index forms bullish reactions, traders could assume that the bullish movement will continue. On the upside, the index needs to print a new higher swing high to confirm the bullish continuation.

RTX Corp Com (RTX)

RTX share prices are trading upward and currently testing the horizontal line and the daily SMA 200. If the share prices move lower with strong bearish momentum then the bearish trend will continue. On the other hand, if the share prices continue trading upward then it will target the daily SMA 200 also $95.00 point.