Stock futures little gain ahead of inflation data

The U.S. stock market might open higher today but with limited upside as traders await the release of inflation data. This week, traders will focus on the CPI data which should provide more clues on the current inflation. If inflation numbers cool then the stock market could continue trading upward. Meanwhile, higher-than-expected numbers will put the stock market under bearish pressure.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index managed to move upward and currently trades near the daily SMA 200. Will the index manage to break out and continue the bullish movement? Alternatively, will it get rejected and move lower to print a new lower low on the chart? Traders will wait for the reaction after the U.S. inflation data to get a clue on the next direction.

Lockheed Martin Corp (LMT)

LMT share prices gapped up and immediately reached the cluster of averages. It also reached the horizontal level and will test it. If the share prices get rejected with strong bearish reactions then we might see the continuation of the bearish movement. On the upside, a close above the cluster of averages will turn the trend to bullish.