US Stock Markets Today: Choppy, Within Previous Trading Range

17 August 2018 (8:54 AM EDT)

U.S. stock futures have been trading slightly negative in this session, indicating that major stock indexes will most probably open within their yesterday’s trading range.

This will also keep their immediate trading range within previous high and low levels. Once again, we will see the same support and resistance levels in play that had dominate markets yesterday- or in sessions before that. Hourly charts will still provide good indication of minor support and resistance levels.

In news making stocks, Tesla (Nasdaq: TSLA) will be in focus after CEO Elon Musk’s “tearful” interview to the New York Times and reports that the Securities & Exchange Commission (SEC) is investigating Musk’s market-moving tweet about plans of taking Tesla private. There are also reports that the company board is actively looking for a number-two executive to relive Musk from some of his responsibilities.

Tesla stock had fallen nearly 1% yesterday and today, in pre-market trading, the stock is down -3.41%.

As we had written about Nasdaq earlier, the tech index had already created a negative candlestick yesterday, even thought the index closed positive yesterday, and today’s lower opening will keep the index under pressure.

Dow Jones had a huge short covering rally yesterday and will remain rangebound within that previous range.

Day traders can keep an eye on this week’s minor support and resistance levels on 4-hours and hourly charts and trade with the short term trend within those levels. Markets may remain choppy and volatile in this session, as rangebound trend usually happens to be.

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Indian Stock Markets Today: Volatile, Rangebound Intraday Trend

17 August 2018 (9:10 AM IST)

Indian stock markets have been trading rangebound this week and that sideways trading pattern will continue in this session too.

Major stock indexes like Nifty and Bank Nifty are showing this rangebound trend quite clearly on hourly charts and day traders can take help of hourly support and resistance levels for their intraday trading.

Also, these indexes have been trading with high volatility within their hourly range. this is excellent day trading opportunity as traders get to trade on both sides; selling at high and buying at low. Instead of pivot levels, Fibonacci levels are more helpful for trading in such conditions.

So, keep an eye on this week’s high and low levels and minor support and resistance levels within this range on hourly chart, then trade with the short term trend within those levels.

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World Stock Markets Today: Positive Start, Choppy Intraday Trend

17 August 2018 (9:10 AM IST)

16 August 2018 (11:42 PM, EDT)

A short covering rally in Dow Jones took this mega index almost back to its previous high levels, but the tech index Nasdaq made a negative candlestick on charts by opening high but closing much lower than those opening levels.

Today in Asia session, Nasdaq futures have started turning negative while other U.S. stock futures and Europeans stock futures are still showing moderate gains.

This indicates a choppy intraday trend as far as U.S. stock markets are concerned and their volatility may keep global stocks volatile too.

Day traders should follow the technical trend of their local index as regional markets are trading with different trend. Currency fluctuations will still dominate emerging markets.

Expect a highly volatile and mixed trend in world stock markets where trade war impact on different markets will decide how they trade in this last session of the week.

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US Stock Markets Today: Choppy, Rangebound Intraday Trend

16 August 2018 (9:05 AM EDT)

U.S. stock futures are trading with high gains indicating a higher opening  after a fall in the last session. This will keep these markets within their previous trading range.

European stock markets are also trading positive, but cautiously and are not showing much enthusiasm about higher U.S. stock futures.

Dow Jones futures are 200 points higher at the time of writing, indicating that the index might open near 25,300 which also happens to be a resistance level on hourly charts. Since  U.S. stock markets have been opening with gap up and down in recent sessions, hourly charts can provide good indications of current dominant support and resistance levels.

For example, Dow Jones’ major support level, 25,000 is still intact although the index had fallen below this level yesterday but came up to close above this support. On the other hand, 25,300 and 25,400 have become its new resistance level and it may continue to trade within this 400 points range till some major event forces it to break this range- either on the upper or lower side.

Other major U.S. stock indexes will also become rangebound after previous fall and today’s higher opening.

Day traders should wait and observe what kind of intraday trend develops in these markets after a gap up opening. This short term trend can remain sideways or turn down again in case of any new negative development. After an initial day’s trend becomes clear, day trader can follow that trend for short duration trades.. Market volatility can remain high.

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Indian Stock Markets Today: Volatile on Currency and Global Cues

16 August 2018 (8:43 AM, IST)

Indian stock markets were closed yesterday to celebrate their Independence Day, so they escaped the turbulence in global stock markets.

But SGX Nifty suffered a highly negative trend yesterday and is down by more than -30 points in today’s early session, indicating a gap down opening in Indian stock markets.

This would mean that Indian stock markets will be range bound within their last session’s high and low mark. Nifty could trade between 11,400- 11,350 marks and remain choppy today.

Day traders should keep an eye on Fibonacci support and resistance levels as markets will be making bier moves near those levels instead of intraday short term levels.

Day traders should wait for markets to et over the initial volatility, then trade within the range levels with the short term trend, whatever direction it takes. Hourly charts can indicate support and resistance levels within the current range for major Indian stock indexes.

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World Stock Markets Today: Volatile on Various Trade War, Currency Worries

16 August 2018 (8:43 AM, IST)

15 August 2018 (11:13 PM EDT)

when U.s. stock markets oped for trade on Wednesday, it was a mayhem all around. At one point, Dow Jones had fallen more than -300 points and looked like it won’t stop falling through the session.

Other major U.S. indexes were also crashing and taking down with them all other global indexes. European stock markets tumbled head over heals with U.S. stocks and even SGX Nifty, futures index of India’s Nifty, fell by nearly -150 points with the crash in U.S. stock markets.

Later in the session, some buying support stopped this fall and U.S. stocks recovered somewhat to close with lesser margins, but still with considerable losses.

Today, in Asia session, U.S. and European stock futures have rebound on reports of China- U.S. trade talks- but- traders should remember that thew current crisis is happening because of a stand-off between Turkey and the U.S. Markets are not worried about China anymore.

An earlier fall in Turkish lira has impacted emerging market currencies that have fallen against USD and, according to a CNBC report, big investors have started pulling out their money from emerging markets like India and Argentina fearing a similar fall in those markets.

So, the upheaval in currency and stock markets will continue for the time being and keep world stock markets volatile. Different markets will react differently to current round of trade crises. That is why, SGX Nifty is not following the positive trend in U.S. stock futures as it usually does.

At the time of writing, almost all major Asian stock markets are trading negative. Only Nikkei (Japan) is slightly positive. SGX Nifty is nearly -30 points down, indicating a gap down opening in Indian stock markets today. U.S. and European stock futures are positive but volatile and there is no certainty that this positive trend will continue till the opening bell in these bi markets.

Day traders should expect a highly volatile intraday trend and trade for short durations with the local trend. Overall, global stocks are facing pressure and can remain subdued or rangebound i this session.

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US Stock Markets Today: Negative After Turkey Imposes Tariffs on American Goods

15 August 2018 (6:53 AM EDT)

Its still early morning and more than two hours to go for the opening bell in U.S. stock markets, but it seems, we are going to see a big gap down opening in U.S. stock markets today.

U.S. stock futures and European stock markets have tumbled after Turkey announced stiff tarries on many American goods. Turkish lira has jumped against USD but at the same time, the Dollar index is also rallying, crushing other currencies.

Dow Jones futures are nearly -150 points down at the time of writing, indicating that the index will erase yesterday’s gains at the opening. Futures of Nasdaq and other major U.S. indexes are also pointing to similar opening losses.

A app own opening will keep U.S. stocks within last two sessions’ trading range. Major indexes had stabilized near their important support levels and it remains to be seen, if those supports will hold today.

Dow Jones, for example, is close to its major support of 25,000. Above this level, Dow Jones will remain sideways as seen on weekly charts.

Although the overall trend in still positive for U.S. stock markets, but the intraday trend has turned highly volatile and sideways due to this week’s new trade problems between Turkey and the U.S.. This is affecting currency markets and through upheaval in forex pairs, global stock markets are being affected too.

At the time of writing, an intraday choppy session looks set for U.S. stock markets today.Day traders will have to wait and see if the lower opening continues in an intraday downtrend or if major stock indexes find support and trade in small range after that.

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US Stock Markets Today: Volatile On Turkish Lira’s Movements

14 August 2018 (8:59 AM EDT)

Global stocks had a breather today as Turkish currency lira bounced back after a recent crash. But now, lira has become rangebound against dollar and is showing weakness at current levels.

Perhaps that is why U.S. stock futures and European stocks have started to give up their earlier gains.

European stock markets are trading mixed with either negative numbers or single digit positive numbers.

U.S. stock futures have also rapidly lost some of their earlier gains. This indicates that the intraday trend could remain choppy in U.S. stock markets just like yesterday when a positive opening had ended in a negative closing.

Major U.S. indexes are expected to trade within last two session’s high and low levels. There are thin chances of breaking out of previous high level but the low level will be at risk if currency markets witness nay weakness in Turkish lira again.

Day traders should use Fibonacci levels for intraday trading since previous Fibonacci levels are back in the play. For example, Dow Jones is back to testing its previous important level of 25,200 and 25,500.

Let markets establish an intraday high and low and then whichever levels is broken, trade in that direction with the trend. The intraday trading pattern can remain highly volatile in U.S. stock markets today.

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Indian Stock Markets Today: Choppy on Global Cues, Rupee

14 August 2018 (8:59 AM, IST)

As we had written yesterday, Indian stock markets, especially Nifty, traded with choppiness after a gap down opening yesterday.

Today’s pre-opening numbers are showing a bounce back in major Indian indexes but now, day traders should look for resistance from short term Moving Averages on daily- 4-hgours timeframe.

Yesterday’s low points will ow become today’s range support and yesterday’s high point, today’s resistance.

Last week’s range levels will be broader range levels for major Indian indexes today..

This will create a rangebound trend and traders should see to buy and sell with these levels. Buy at low, sell at high. RSI can help in deciding these trades as overbought and oversold conditions will help in determining short or long traders in different timeframes. For example, for scalpers, RSI in one minute chart is good enough for trading. For long term traders, the signals will not change so abruptly.

Fibonacci levels will be more helpful in such reversal and bounce conditions instead of intraday pivot. So take help of those levels and trade with the short term trend, which can remain volatile and sideways.

Rupee’s intraday trend can also add to the volatility. After falling to 70 against USD, the Indian currency is showing signs of stabilizing below that level. Support to rupee can support Bank Nifty or a fall in this currency can lead to a fall in Bank Nifty too.

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World Stock Markets Today: Volatile on Technical, Under Pressure on Global Cues

14 August 2018 (8:59 AM IST)

13 August 2018 (11:29 PM EDT)

World stock  markets are in a minor downtrend on Turkey and other trade war worries. After recent fall, today global indexes are showing volatility as their technical support levels come near.

That’s why Asian stock markets are trading mixed and U.S. and European stock futures are showing moderately positive numbers. SGX Nifty is flat/slightly negative, indicating a similar  opening in Indian stock markets.

But these small positive numbers are minor pauses and as we saw in U.S. stock markets in their overnight session, any positive bounce can quickly turn negative on currency market trends.

Day traders should follow the short term trend since that can turn choppy today. Please do not look fro any big long trend as had been happening till early last week. Right now, it is a news-based trend reversal and only some positive news can stop it.

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