Stock futures slide before the market opens after last week’s strong performance

It is the last day of October which means the U.S stock market will close the month with positive results. The upward movement might come to a halt this week as traders and investors brace for the Fed FOMC meeting. If the Fed decides to raise interest-rate and plan further rate-hike then the market might react bearishly toward the news.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index extended the bullish close last week and managed to close above the daily SMA 200. It’s a bullish indication but traders will monitor further reactions from the 32,500 – 33,250 area this week. If the index gets rejected with strong bearish momentum then we might see a bearish continuation after the Fed FOMC meeting.

Kraft Heinz (KHC)

The return of KHC above the daily SMA 200 is a bullish confirmation. Aside from technical breakout, the company also performs well on the financial reports. If there is a bearish correction toward the averages then traders could consider entering long positions when bullish reactions happen.