Stock futures recover after further weakness today

The DJIA futures trade lowered more than 300 points today but managed to stage a recovery after news that UK BOE start intervention in the bond market. The bearish situation might take a break for the short-term which might turn into a bullish leg. However, traders will focus on the quarterly results from companies in October.

If earnings continue to slowdown then the bearish pressure on the stock market will continue.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index print another bearish close yesterday and continue the bearish streaks since the bearish reversal from the level near 32,500. There is no bullish sign which means it is better to stick with a bearish scenario for now. If the index starts a bullish reversal then it will need to close above 30,000 to turn bullish.

Southern Co Com (SO)

SO share prices is in a bearish pullback and managed to reach the daily SMA 200. It might continue lower to target the lower trendline. Traders will observe the share price reactions near the daily SMA 200 and the trendline. If there are bullish reactions then traders could consider entering long positions.