US Stock Markets Today: Choppy, Rangebound Intraday Trend

10 December 2018 (8:05 am EST)

US Stock futures have turned positive after trading highly negative through the global session. This indicates a choppy session ahead for US stock markets.

There is still more than an hour to go for the opening bell in these markets and the trend in futures can change during that time. Based on those numbers, the opening in U.S. stock markets can be positive or negative.


If these markets open positive, then trading range will remain within last session’s high and low numbers and U.S. stocks will be considered in a sideways intraday trend.

However, if markets turn negative, then it will provide strength to last session’s downtrend and U.S. stock markets will see a rough session with selling pressure dominating the intraday trend. Closing levels of major indexes will be more important that how markets open today.

For day traders, we have provided pivot levels of major stock indexes on our Pivot Trading page. These levels will help identify intraday support and resistance levels. For major indexes, these levels are:

For day trading, it would be better to wait and let markets recover from opening volatility create an intraday trend. Then just follow that trend.

All those geopolitical factors that had kept U.S. stock futures lower in early trading are still intact. That is why there is no certainty how long the  positive indication will last in markets. It will be better strategy to sell from higher (resistance) levels in such volatile market conditions.



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Breaking News: RBI Governor Resigns, SGX Nifty falls 150 points

10 December 2018 (5:36 pm IST)

Breaking News: RBI Governor Urjit Patel has resigned “effective immediately”, SGX Nifty has fallen -150 points and rupee has also tumbled on this negative news.

Indian stock markets have just received a jolt after the closing of day’s session. The Reserve Bank of Indian governor, Urjit Patel has resigned “with immediate effect”. There has been open conflict on policy matters between the Indian central bank and the Indian government recently and at one time, rumors were rife that the RBI Governor will resign instead of giving into the government’s pressure.

SGX Nifty, futures index of NSE Nifty, has fallen by more than -150 points after the news broke. Indian rupee has also fallen against dollar and is now heading towards 72. Both these factors will have highly negative affect on Indian stock markets tomorrow, especially on Bank nifty.

Indian stock markets were already worried about  assembly elections results from 5 important States and now this jolt could keep these markets extremely volatile tomorrow.

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Indian Stock Markets Today: Down on Global, Assembly Election Result Worries

10 December 2018 (8:44 am IST)

Indian stock markets are facing both global and local worries. These markets are waiting for Assembly election results from 5 important states, to be declared tomorrow, and exit polls are indicating heavy losses for the ruling BJP.

SGX Nifty had started falling late Friday after these exit polls indicated adverse results for the BJP. Although in India, exit polls are never trustworthy but investors start getting worried and a big fall in global stock markets has added to those worries.

SGX Nifty is indicating a big gap down opening for Indian stock markets today. After that, markets may turn volatile on technical support. The intraday trend in these markets will depend on how U.S. stock futures trade. Day traders can take help of pivot levels to see if any support comes for major Indian stock indexes. These levels are given on our Pivot Trading page. You can also find those levels here:

Expect Indian stock markets to remain under pressure and trade with choppiness. Global trend will dominate these markets and intraday trading can turn highly volatile.

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World Stock Markets: More than 1% Down On GeoPolitical Worries

10 December 2018 (8:44 am IST)

9 December 2018 (10:15 pm EST)

As we had warned in our previous post, world stock markets have opened with more than -1% losses across the board on geopolitical worries.

Tensions between China and the U.S. have notched up another level after arrest of  Chinese tech giant Huawei’s CFO by Canada at request of the U.S. Over the weekend China  called ambassadors of Canada and the U.S. and registered its strong protest against   Huawei executive’s arrest.

This diplomatic level strife has, as expected,  spooked global stock markets and this new week has stared with more than -1% losses across the board in world stock markets in early trading. U.S. stock futures are highly negative at the time of writing and other markets are following this negative trend.

Read: US Stock Markets Next Week: S&P 500, Nasdaq Make Risky “Death Cross”

All major Asian stock markets are trading with heavy losses in opening trading hours. Japan and Australia are down -2%. SGX Nifty has lost nearly -150 points at this hour, indicating a big gap down opening in Indian stock markets.

Global stocks are expected to trade negative in this session and the week will also remain turbulent on various geopolitical and regional troubles. Asia is shaken by weak China economic reports and diplomatic conflict between China and the U.S., Canada. Europe is worried about unrest in France and coming Brexit vote in British Parliament. India faces political turmoil if state assembly election results go against the ruling party. And the biggest of these all, the U.S. is facing a hoard of international and national issues.

So, expect global stock markets to remain under pressure and turbulent this week. For day traders, it is advisable to trade with the dominating trend. It would be better to wait for any slight intraday recovery in their markets and then look for short selling opportunities.

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US Stock Markets Next Week: S&P 500, Nasdaq Make Risky “Death Cross”

9 December 2018

U.S. stock markets again fell on Friday, the closing seeing of the last week and wiped put almost all gains made on Thursday.

S&P 500 made a very negative  signal of “Death Cross” which appears when any entity’s 50-Day Moving Average falls below 200-Day MA. This signal is considered highly bearish and could put S&P 500 at risk of more losses ahead. The tech index Nasdaq had already made this bearish signal at the start of the week.

The fall in U.S. stocks spooked futures markets and Asian markets’ futures fell with big numbers too. Nikkei futures closed -1.30% lower and SGX Nifty (futures of India’s Nifty) closed with losses of more than -100 points in late trading.

We are just hours away from the start of a new week in world stock markets. The global trend will depend how U.S. stock futures trade when global markets open in Asia session.

If S&P 500 futures find support, it can give hope of surviving the bearish “Death Cross” signal for this important index, which is tracked by major financial institutions like central banks. If S&P 500 futures trade negative, then we can expect a highly negative opening in world stock markets on Monday.

Global geopolitical situations will add to market worries. In France, President Macron is facing public protest on his economic policies and his approval ratings have nose dived to just 18%. In Britain, next week will see an important Parliament vote on Brexit deal. In India, 5 state assembly election results will be declared on Tuesday.

China- U.S. trade tension have added a new dimension with the arrest of tech giant Huawei’s CFO by Canada at the request of the U.S. Over the weekend, China has protested against this arrest and has warned Canada of “grave consequences” if Huawei’s top executive is not released. If nothing else, than this warning is enough to rattle global markets next week.

All things are pointing to a continuation of current downtrend in U.S. stock markets, which will keep global markets down too. The only support can come from technical levels and if that does not happen soon, U.S. stock markets are staring at the risk of falling below this year’s low levels.

Technically, if those support levels are broken, then it will be a breach of the current broad range in U.S. stock markets and start a  downtrend in these markets. Obviously, global markets will follow that trend.

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US Stock Markets Today: Choppy, Rangebound Session Ahead

7 December 2018 (8:53 am EST)

U.S. stock futures have been hyper-volatile in today’s session, dropping down with big margins, then surging up , then falling again as if markets cannot make up their mind which way to go.

That is a warning signal for day traders that today’s session can turn very choppy and day trading can turn difficult with sudden moves in up or down directions.

Commodities are rallying, especially Oil prices are up b y more than 4%. Currency markets are being affected by this move and various reports from the U.S. economy are adding fuel to the fire making the Dollar index swing wildly.

All these factors can keep U.S. stock markets very choppy and rangebound in today’s session. The intraday range will remain within yesterday’s big range, if these markets trade negative. If these markets trade positive, the this week’s bigger range will dominate the trend.

For day traders, we have given intraday pivot levels on our Pivot Trading page. Use this level to see which levels dominate the intraday trading pattern. For various indexes, these levels are:

Expect a very choppy and rangebound intraday trend in U.S. stock markets today. The weekly is going to end in red for these markets. Today’s closing levels may provide some hint as to how the trend will develop next week- a continuation of this week’s declining trend or a reversal from support levels.

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Indian Stock Markets Today: Choppy Within Previous Trading Range

7 December 2018 (8:49 am IST)

Indian stock markets are expected to open higher in today’s session, after yesterdays’ big fall, especially in Nifty.

SGX Nifty has gained 60 points in early trading but on charts, but trading mostly in a narrow range as global cues are still mixed.

Nifty and broader markets are expected to trade within yesterday’s trading range and day traders can take help of intraday support and resistance levels for trade entry and exit points. For major indexes, these levels are given on our Pivot Trading page. Individual levels for indexes are:

The weekly and long term trend is still highly negative for these markets and the intraday trend is expected to remain sideways and could be very volatile.

For day trading, trade with the short term trend between important support and resistance levels.

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World Stock Markets Today: Choppy, Rangebound Intraday Trend

7 December 2018 (8:49 am IST)

6 December 2018 (10:19 pm EST)

U.S. stock markets hd a highly volatile overnight trading session where major stock indexes first fell precariously to previous week’s low levels and then had a technical recovery to recover almost all those losses. Nasdaq closed in positive after a highly negative opening trade. Dow Jones fell more than -700 points in first two hours and then recovered to close just -79 points lower.

Today, world stock markets are showing mixed numbers in this last session of the week. Major Asian stock markets are trading mixed with thin positive and negative numbers. These markets are still spooked by the earlier crash in U.S. stock markets.

U.S. stock futures are still trading negative, and are very choppy. European stock futures are following that choppy trading pattern.

SGX Nifty is showing good gains after yesterdays’ big fall, indicating a gap up opening in Indian stock markets too.

World stock markets are expected to trade with choppiness and remain rangebound within last two session’s trading range, which had bee highly negative. This month and week’s trend is still negative and global stocks will trade with an eye on U.S. futures. Any sudden hone inn those numbers can trigger similar volatility in other markets too.

Day traders should trade carefully between support and resistance levels since the intraday trend in expected to remain rangebound. Keep strict stop loss in all your trades and look for quick profit booking.

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US Stock Markets Today: Big Opening Losses, Choppy Trend

6 December 2018 (8:31 am EST)

U.S. stock futures have been trading with big losses through the global session and at the time of writing, those highly negative numbers are pointing to a big gap down opening in U.S. stock markets today.

Dow Jones futures are trading with nearly -400 points’ loss, indicating that this index will open somewhere between  24,700- 24,600 levels. Just two sessions ago, this index was touching 26,000 and now, it is entering mid-24,000 range. This indicates how ferocious this week’s downtrend has been in this index and broader U.S. stock markets.

But then, last week’s rally was equally quick so no one should be surprised at this strong  trend reversal.

For day traders in these markets, the same trading strategy will apply that we had suggested for traders in other markets. Wait for markets to recover, then sell if the trend again turns down from any resistance levels. These intraday support and resistance levels are given on our Pivot Trading page. Pivot levels for major stock indexes are:

The weekly downtrend in U.S. stock markets has shown a lack of any bounce even after a big fall in the previous session. This indicates that there is still a strong downside risk to these markets.

Expect a choppy intraday trend after a gap down opening in these markets, which will be due to technical reasons. After that, we will have to wait and see if the downtrend returns and continues or markets hold on to some support and recover by the closing bell.

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Indian Stock Markets Today: Highly Negative Open, Slow Intraday Trend

6 December 2018 (8:56 am IST)

SGX Nifty is indicating a very low opening in Indian stock markets, following the highly negative trend in global stock markets.

Also, as we have been pointing out, rupee is sliding back again, as dollar is rising from its support levels against the India currency. Both the global trend  and currency cues are putting pressure on Indian stock markets currently and these markets are also expected to continue with their trend reversal from current range high levels.

For day trading, there is nothing more than to wait for some recovery in these markets after a gap down opening. Every recovery will attract fresh selling so day traders should wait for markets to indicate reversal once price recovers and reaches near any resistance level. We have given these intraday support and resistance levels on our Pivot Trading page. For major indexes, these levels are:

Wait, watch and trade only with the trend. Markets can remain very choppy if global cues turn volatile later in the session.

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