Stock futures trading upward after last week’s bearish rout

DJIA index traded upward 180 points before the market opened. The bullish setup might be a temporary reaction before the Fed interest-rate decision. Aside from that, traders and investors will continue to observe the major earning releases. This week, traders will observe Apple’s earnings results which could influence the market’s overall performance.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index breakout lower and printed a new lower low on the chart. It seems the bearish trend will continue for the medium-term and it is better to wait at a lower level to enter long positions. Traders will use the current bearish move as a chance to continue accumulating long positions in stocks.

Electronic Arts (EA)

EA share prices have broken the double-bottom pattern and entered a new bullish leg. The bullish leg has been completed and currently, the share prices are undergoing a bearish correction which reached the previous breakout point. Traders will observe the share price reactions near the breakout point, if there are bullish reactions then traders could enter long positions.