DJIA futures lower nearly 200 points after Hamas-Israel attack

The stock market might start the week on the negative side as conflict is brewing between Israel and Hamas. Israel’s central bank mentioned it will sell $30b of foreign reserves to support currency which could trigger a sell-off in the global market. Traders will prepare for more bearish pressure while accumulating more long positions when the market turns lower.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index showed bullish reactions after prolonged bearish movement. The index might move upward to reclaim the daily SMA 200. If the index could reclaim the averages this month the situation could turn bullish until the end of the year. At the current time, there is no lower low printed on the chart which means the bullish trend is still intact.

Netflix Inc (NFLX)

NFLX share prices could be interesting to watch as it is currently trading near the daily SMA 200. There was a bullish reaction last week from the averages which could turn into a new bullish leg. If the share prices could move upward with strong bullish momentum then the situation could turn bullish.