U.S stock futures slightly higher before earnings releases

We are now in Q3 earnings season which means the stock market might hold its positions from further drop while traders and investors assess the companies’ results. Aside from the earnings result, the market also monitors closely the Fed interest-rate decision at the beginning of the month. Another rate hike is planned but it might not possible for the Fed to execute it.

If there is no more aggressive rate-hike then the market could turn bullish.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hanging near the 30,500 – 31,250 area without strong bearish reactions yet. The index might continue the upward movement to test the daily SMA 50 & 100. At the current time, there is a double-bottom pattern which might indicate a bullish reversal. If the Fed decides to hold its plan on rate-hike then we might see the pattern confirmed.

Traders will monitor the index reactions near the current level for now.

Electronic Arts Inc (EA)

EA share prices currently undergo upward movement after the bounce from the bottom trendline. It might extend the upward movement to test the daily SMA 200 and the top trendline. Traders will monitor the share price reactions for now. If the share prices get rejected with strong bearish reactions then traders could enter short positions.