Stock futures extending bullish movement

The U.S. stock futures push to the upside following the bullish close which happened yesterday. It seems traders are expecting that the Fed will hold interest-rate steady in next week’s FOMC meeting. We think traders could continue to hold a bullish outlook and accumulate long positions when a bearish correction happens. No change to the outlook and it is better to wait until the interest-rate announcement before deciding to enter major positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed a bullish close yesterday and might continue the bullish trend to target a new higher high. However, traders will prepare for next week’s FOMC meeting which could influence the market for the rest of the year. If the index continues the bearish movement then traders will wait near the daily SMA 200 for bullish reactions. We think the trend will continue bullish as the interest rate peaks.

Hasbro Inc (HAS)

HAS share prices turned lower after the rally from the daily SMA 200. It seems the share prices could continue to weaken and target the trendline also daily SMA 200. Traders will wait until the bearish correction loses its momentum near the support level. When there are bullish reactions, traders could enter long positions expecting the share prices to continue the bullish trend.