Stock futures are slightly higher ahead of big banks’ earnings results

U.S. stock futures trading slightly upward on Friday after yesterday’s drop. Traders and investors will focus on the earnings release by big banks which should influence the market movement. JP Morgan (JPM), Wells Fargo (WFC), Citigroup (C) and Blackrock (BLK) are set to report earnings today. The market’s next direction might be determined after the reactions toward earnings releases.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index’s upward movement showed bearish rejection near the daily SMA 200. If the index cannot reverse the bearish pressure and continue moving lower to print a new lower low then the bearish trend will continue. On the other hand, a close above the daily SMA 200 at the end of the week might become a bullish confirmation.

Groupon Inc (GRPN)

GRPN share prices undergo a massive bearish movement and show temporary bullish reactions. We think the share prices might continue the bearish movement to target the daily SMA 200. If the bearish momentum subsided near the averages then traders could consider entering long positions. However, without any bullish reactions, it is better to stay sideline for now.