U.S stock volatile, waiting for more inflation data

The U.S stock market move with high volatility today following the release of PPI data. The number show lower than expected inflation numbers. However, the market takes defensive stance as more data will be released. Tomorrow, the market will focus on the release of CPI data. We might see more movement like today until all the data released and the FOMC meeting.

Dow Jones Industrial Average (INDU)

DJIA index turn lower today but mostly stay near the trend line. Not much changed, as the index also trading near yesterday’s low. If there is a bounce from the red trend line, then we might see new record high. On the other hand, if the index continues moving lower, then it will target the orange trend line. Traders will maintain bullish outlook for now while waiting for the data release and FOMC meeting.

Hasbro, Inc (HAS)

HAS share prices under pressure and printed a new lower low. It might extend the bearish movement toward the daily SMA 100. Traders could wait until the bearish pressure receded and there are bullish reactions to enter long positions. The area between $70.00 – daily SMA 100 could become the best area to look for long positions.