Stock futures were mostly flat before the close of a bearish week

The stock market is expected to continue under pressure following more bad news. Today is the last day of September which will mark another bearish month. Next month, traders will focus on the inflation data again and what path the Fed will take. If inflation numbers continue to increase then more rate-hike might be planned.

No reason to turn bullish yet, but we might be near the end of the bearish leg before a recovery movement.

Technical Analysis

Dow Jones Industrial Average (INDU)

The movement of the DJIA index looks sideway near the current level. The index halts its bearish pressure and might close the week near the current level. If a bullish bounce happens then it will target 30,000 and 30,500 – 31,250 area. Traders will monitor the index movement for now. When the index managed to reach a resistance level and form bearish reactions then traders could enter short positions.

Sketchers USA Inc (SKX)

SKX share prices are trading lower and printed a new lower low on the chart. The share prices currently undergo a bullish correction and testing the level around $34.00. If it could continue moving upward then we might see a test on the daily SMA 200. In all previous tests, the share prices always got rejected and resume the bearish trend.