Dow Futures gain 100 points on JNJ company split

The DJIA futures are higher by more than 100 points today, indicating a higher opening on the last day of the trading week. DJIA’s bullish pressure comes after JNJ announce that it will split the consumer health division into two separate companies. At the current time, the index might attempt to resume the bullish trend and disregard the latest inflation data which spike above 30-year high.

Traders will continue to stay bullish on the index and ready for a major pullback after earnings season finish.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made another bearish close yesterday and is on track toward the horizontal line also the daily SMA 50 & 100. However, the bearish pressure might reverse today as the index futures trading upward more than 100 points. If the index continues moving lower then traders will prepare near the horizontal line and the averages for a bounce.

Radian Group Inc (RDN)

RDN share prices look trading between two horizontal lines between $21.75 and $24.50. It currently trades near the bottom range and the cluster of averages. If the share prices could return above the cluster of averages then traders will expect a bounce to target $24.50 or the top of the range.