U.S stock futures pointed higher after the previous day dump

The Asian stock market is trading mostly lower today with Japan’s Nikkei down 2.07%, China’s Shanghai Composite down 1.42%, and Australia ASX down 0.9%. It seems the European stock market will follow suit in the bearish direction. Despite the situation, U.S stock futures show positive signs and indicate recovery today.

Traders and investors mostly will wait for the monthly closing level of the major indices and a series of data releases to confirm what the Fed will do next month.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index sharply lower yesterday after the breakout from daily SMA 100. The index seems will continue moving lower and target the daily SMA 200. At the current time, the index futures are higher by 180 points which indicate recovery. If the index trade upward then it needs a close above daily SMA 50 to confirm the continuation of the bullish trend.

AirBNB Inc (ABNB)

ABNB share prices have increased and traded above the daily SMA 50 & 100. When the economy reopening entirely then we will see a major increase in the share prices. At the current time, there is a support trendline and a major horizontal support line.

If ABNB manages to reach the horizontal support line then traders could consider entering long positions.