US Stock Market Technical Analysis | September 14, 2022

Stock futures continue under bearish pressure after yesterday’s dip

Inflation numbers play a major role in the current bearish movement of the stock market. It seems the bearish pressure will continue to shroud the market and hold the stock market down until this month’s FOMC meeting. The market is pricing in a 75 bps rate hike this month. Anything lower is bullish, meanwhile, anything higher could push the stock market further lower.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index tumbled after the release of inflation data. Technically, the index got rejected from the daily SMA 50 and was set to continue the bearish trend. At the current time, the index has reached the horizontal area where the previous bounce happens. If the area breaks to the downside then we might see a bearish continuation to print a new lower low.

Check point SFTWRE (CHKP)

CHKP share prices look trading sideways between the level around $115.00 and the daily SMA 200. Traders could use the range to apply range-trading strategies. As long as there is no higher high and lower low printed then the range will continue maintained. In the long-term, we still think the share prices will start a new bullish leg after the breakout from the range.

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