Stock futures mostly higher as lawmakers avert government shutdown

DJIA index futures are currently up 100 points which indicates positive sentiment before the market opens. Traders and investors take a breather as there is temporary assurance as lawmakers approve bills that keep the government open for 45 more days. Despite the situation, the overall bearish sentiment has not faded yet as traders will continue to focus on inflation numbers and the Fed interest-rate decision. Rising inflation will trigger more bearish sentiment in the market. Despite the situation, traders will continue accumulating long positions when a bearish correction happens.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index managed to close below the daily SMA 200 which opened the bearish scenario in the index. However, it seems the index attempting to stick near the averages and might consolidate near it for now. If the index could bounce upward with strong bullish reactions then the bullish trend could continue. On the other hand, if the index resumes the bearish movement and prints a new lower low then the bearish situation will continue.

International Business Machine (IBM)

IBM share price bullish trend losing the upward pressure and currently moving near the inflection points. If the share prices break out lower then it will target the daily SMA 200. Will the share prices bounce from the inflection point and continue the bullish trend? Alternatively, will it turn bearish with a new lower low and close below the daily SMA 200?