Stock futures slightly lower after U.S outlook downgrade by Moody’s

Last week, the stock market managed to continue the bullish performance and close the week positive. However, it might start the week on the bearish side as Moody’s downgrades the U.S. outlook to negative from stable. If a bearish correction starts then traders will wait for the stock market to turn lower and enter at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made a bullish close at the end of the week near the daily SMA 200. It will attempt to break out from the averages and continue the bullish trend. Meanwhile, without a breakout from the range between the daily SMA 100 & 200, the index might continue trading sideways.

Cronos Group (CRON)

CRON share prices have broken its downtrend after the close above the daily SMA 200. We could see converging averages near the current level which could sign a bullish continuation. If the share prices could move upward with strong momentum then traders could enter long positions near the current level.