Stock futures mostly flat ahead of major tech earnings

The stock market is flat today after yesterday’s bullish close. The upward movement of the stock market came after oil prices dropped. Traders feel relieved that Israel’s retaliation against Iran does not hit energy facilities previously expected by experts. Today, the market will focus on earnings releases by MCD, AMD, SNAP, and GOOG. Tomorrow, META and MSFT are set to report earnings.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made a bullish close yesterday and printed an inside bar pattern. The pattern could mean a pause or indecision on the next direction of the index. If the index resumes the bearish correction, traders will wait near the Fibonacci Retracement levels and the daily SMA 100 for bullish reactions. Each bearish movement in the index is a chance for traders to add more long stock positions for now.

Verizon Communication Inc (VZ)

VZ share prices return to a bullish trend with the structure printing higher swing high and higher swing low. At the current time, the share prices is trading lower and near the daily SMA 100 & 200. If the share prices could bounce upward with strong bullish momentum then the bullish trend will continue. Traders could use the current situation as chance to add long positions.