17 November 2017 (9:20 AM EST)
After a big rally yesterday, US markets look ready to take a pause in today’s session.
Dow Jones futures are trading much lower, but other index futures are mixed and almost flat. That indicates that we may see a similarly mixed and volatile trading patterns in major U.S. indexes today.
U.S. markets are torn between a negative and a positive factor. Progress on tax reforms bill is giving hope to markets and at the same time, developments in the Russia collusion investigation, by the DOJ special counsel Robert Mueller, is a cause of worry for markets.
Overall, we can expect major U.S. indexes to trade within their previous range. That means, intra day traders should watch support and resistance levels for trading.
Give markets time to settle after the opening bell and wait for the creation of day’s first high and low marks. After that, whichever level is breached first, trade in the same direction with the short term trend.
Good luck, enjoy the session!