US Stock Markets Today: Choppy, Weak Trend Continues

15 November 2018 (8:51 AM EST)

U.S. stock markets had another highly volatile session yesterday and in spite of early gains, major indexes collapsed later in the day and closed with big negative numbers.

Today, U.S. stock futures have been trading with choppiness during global session and are now turning negative near the opening bell in U.S. markets.


All technical levels have turned highly negative for these markets. Dow Jones was holding positive numbers for this month, but yesterday, the index fell below its monthly opening level and has now turned negative for the month. It also fell below its two crucial support levels during intraday trading yesterday. Those levels were 25,150 and 25,00. Although Dow Jones recovered to close above 25,500 but this intraday loss of more than -550 points ( from high to low mark) is enough indication of how strong the selling pressure was.

Expect another choppy and weak intraday trading session in U.S. stock markets today. Day traders can take help of pivot levels of major stock indexes to anticipate support and resistance. These levels are provided one our Pivot Trading page. Separate index levels are:

For day trading, wait after the opening bell and let markets create an intraday trend. Then follow that trend till the trend line remain intact. Market volatility is expected to remain high like previous sessions.



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Indian Stock Markets Today: Volatile, Rangebound Intraday Trend

15 November 2018 (8:52 am IST)

Indian stock markets have turned rangebound within a smaller range as rupee also trade between 73- 72 levels.

As we wrote previously, these markets are waiting or the RBI’s important meeting next ween and will take a trend only after that. Till then, even highly negative global cues will not affect these markets as much as usually they do.

Yesterday, Bank Nifty stayed a breakout and seemed tone embarking upon a positive trend but then Nifty fell with global cues and Bank Nifty also came down to close within its current range.

Day traders can use intraday pivot levels to trade such rangebound markets. We have provided these pivot levels for major Indian stock indexes on our Pivot Trading page. Individual index levels are:

Day traders can take help of these levels to trade within specific intraday range and can trade in both directions with the short term trend.

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World Stock Markets Today: Mixed, Choppy Trend on Local, Global Cues

15 November 2018 (8:52 am IST)

14 November 2018 (10:22 pm EST)

World stock markets are trading mixed in Asia session even after another negative overnight session in U.S. stock markets.

In fact, going by some positive and relatively smaller native numbers in Asians stock markets and a positive SGX Nifty, it seems as if Asia is more focussed on local cues today instead of getting worried about a continuous fall in U.S. stock markets.

At the time fo writing, U.S. and European stock futures are trading considerably negative but Asian stock markets are showing some positive numbers and SGX is indicating a positive opening in Indian stock markets on currency market cues.

This indicates that if U.S. stock futures turn positive later in the session, global stocks could also follow the trend. Only a bigger fall in these futures will pressurize global stocks today. Otherwise, we can expect a choppy and ran bound trend in world stock markets today.

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US Stock Markets Today: Choppy Near Support Levels

14 November 2018 (8:25 AM EST)

U.S. stock futures have been trading with extreme volatility through the global session today and have been fluctuating between big losses and small gains.

This indicates that major U.S. stock indexes are under pressure but their current technical support is helping price stay above those levels. This is particularly true about Dow Jones which has fallen near its major support of 25,150 and could see choppiness near this level.

As we know, it is easy to make profitable trades in a directional trend and difficult to trade a directionless/ sideways/rangebound market. But the good thing is, markets are always trending in one or other timeframe and if a trader keeps checking different timeframes of any entity, a trend can be easily spotted and traded for profits.

For example, if we want to trade Dow Jones, we can start by checking its monthly chart. On monthly level, this index is trading in a fixed range and drawing Fibonacci levels between high and low of this range given us 25, 150 mark at 50% retracement which is considered an important level.

Next, we take one step back and check weekly charts of Dow Jones. Here also the index is rangebound and is showing a 50-Day Moving Average support at the same level (25,150). This shows that this particular support level is very strong and it will either save the index from falling down or, if the index breaches this support, then stronger downtrend will start.

One more step back and we arrive at daily charts of Dow Jones. This shows a downtrend and the index shows it has fallen below 20-Day MA in this timeframe. But, still above the strong support of 25,150.

Next is 4-hour chart, again, shows a downtrend BUT- here we see the  index had support at 25,150 on multiple previous occasions in this timeframe. That makes this support even more strong.

Then we move to 1-hour chart and here, a clear downtrend is visible in Dow Jones, where the index is trading below 20-Day MA which is acting as the trend line. Going by this chart, it may seem that selling the index will be a better strategy. However, the RSI indicator has become oversold in 1-hour time frame and after touching down to an extreme low level of 24, the RSI is now rising. This indicates that buyers will be soon coming back. Also, there is a strong support of 25,150 present nearby so even if Dow Jones falls in early trade, an oversold condition makes it ready for a bounce back in 1-hour timeframe.

This is just an example to show how day traders can identify trending and sideways trading conditions in different timeframes then choose a trending timeframe for day trading.

Usually, markets bounce back if 1-hour timeframe becomes oversold in any entity. Add to that a strong technical support level and we can expect a bounce back for Dow Jones and broader U.S. stock markets today.

But, overall, these markets are turning down (within a range) so after some recovery, the downtrend could return. Just keep watching technical indicators to know when that will happen.

For today’s session, expect a highly volatile intraday trading pattern in U.S. stock markets. Intraday support and resistance levels (given on our Pivot Trading page) can help day traders identify the trading range for major stock indexes. These levels are:

Wait for markets to become stable after opening volatility, then trade with the short term trend which is expected to remain sideways within this week’s trading range.

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Indian Stock Markets Today: Choppy Trend on Rupee, Global Cues

14 November 2018 (8:42 AM IST)

Indian stock markets are expected to open higher today as rupee gets stronger against dollar. These markets are waiting for the RBI’s important meeting next week, where it  will decide about the government’s orders of handing over 40% of the central bank’s reserve funds.

If the RBI succumbs to government’s pressure and hands over that huge amount of money, then obviously a chunk of it will find its way to stock markets and Indian markets will rally on this big liquidity infusion.

That is why Indian stock markets have been overlooking the fall in U.S. stock markets and have been rallying up after every decline.

This positive bounce is expected to continue till the RBI’s meeting net Monday.

Till then, day traders can expect a very choppy trend in these markets where global and local cues will keep major indexes choppy, unstable but finding support. Intraday pivot levels given on our Pivot Trading page can help day traders find these support (or resistance) levels for major stock indexes. Separately, these levels are:

Expect a higher opening but choppy trading in Indian stock markets today. In short timeframes, these markets have been trending up and down, but in bigger timeframes,. then trend is still rangebound within an overall downtrend.

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World Stock Markets Today: Volatile, Rangebound Trend

14 November 2018 (8:42 AM IST)

13 November 2018 (10:12 PM EST)

World stock markets are trading inn a mixed and choppy manner in early Asia session. U.S. stock markets had closed without any recovery from Monday’s losses and Dow Jones added 100 points more to those looses, effectively losing -700 points in just two sessions.

Even in today’s global session, U.S. stock futures have been unable to show any recovery till the time of writing, and have been fluctuating between red and green numbers. European futures are slightly negative after a rally yesterday.

The Dollar index is down and emerging market equities are benefiting from weaker dollar. SGX Nifty is some 40 points higher due to these currency market trends.

But all major Asian stock markets are trading negative, following the weak trend in bigger stock markets.

Expect world stock markets to trade with high volatility and remain rangebound within this week’s trading range. Various factors such as currency trends technical signals and the trend in U.S. stock futures will keep global stocks choppy and unstable. Day traders should follow the trend in their local index and be ready for trend fluctuations through the session.

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US Stock Markets Today: Under Pressure, Apple Falls Again in Pre Market

13 November 2018 (9:08 AM EST)

Apple (Nasdaq : AAPL) is trading don by more than -1% in pre open market even after  a  big fall of -5% yesterday.

For Apple, another big negative news came today from Goldman Sachs that reduced Apple iPhone estimates by a whopping 6% on negative supplier outlook.

Yesterday, U.S. stock markets had suffered a steep decline after negative supplier report dragged down Apple’s stock. A loss of -600 points in Dow Jones and more than -200 points in Nasdaq indicates how big this decline was.

Today, U.S.stock futures have been trading positive through the global session, but the news about Goldman Sachs cutting iPhone estimates again put pressure on those futures and now it looks  like we may see a flat/ negative open in U.S. stock markets today.

Even if U.S. markets open positive, the immediate trading range will remain between yesterday’s high and low levels in these markets. It seems unlikely that major indexes will be able to rise above their yesterday’s high levels, but it will not be surprising if yesterday’s low levels are taken out. If that happens, then obviously U.S. stock markets will see more losses and continue to trade down.

Day traders can use intraday pivot levels, provided on our Pivot Trading page, to see which levels act as stronger resistance. For major stock indexes, these levels are:

Expect a choppy opening and weak trend in U.S. stock markets today. Apple’s trading pattern can put pressure or provide relief to Nasdaq and broader markets.

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Indian Stock Markets Today: Choppy on Rupee, Global Cues, in Broad Range

13 November 2018 (8:37 AM IST)

Yesterday, Indian stock markets started a trend reversal from their current range top levels and major indexes closed with big losses.

We have been writing about SGX Nifty’s trend line breach inn 4-hours chart even though Nifty was not following that breakdown and Bank Nifty was rangebound. But yesterday, when dollar pushed rupee down again, finally Nifty and Bank Nifty also fell.

Day traders can now follow short term Moving Averages to check the trend and trade with the short term trend which can remain choppy on rupee and global volatility.

Indian stock markets have been following the trading pattern of U.S. markets are are in a broad range within their current down trend. Nifty and other stock indexes will continue to trade within this range with choppiness. Day trades can check intraday pivot levels of major stock indexes, given on our Pivot Trading page, to see the support and resistance levels for intraday trading. These levels are:

Expect a choppy intraday trend in Indian stock markets today on global cues and rupee’s trading pattern. Day traders should wait till a clear trend emerges in markets for the session, then trade with the trend.

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World Stock Markets Today: Negative as Tech Sell Off Returns

13 November 2018 (8:37 AM IST)

12 November 2018 (10:07 PM EST)

World stock markets have turned highly negative as big tech stocks witnessed return of their previous sell off inn U.S. stock markets’ overnight session. Shares of Apple fell by -5% after reports about its reduced second quarter outlook and large cut down in shipment orders.

Dow Jones lost -600 points, Nasdaq was closed down by more than -200 points. As a result, Asian stock markets are also trading highly negative in their early trading hours. Nikkei (Japan) is down by more than -700 points. Other major Asian markets are also suffering heavy losses. SGX Nifty is down by nearly -50 points, indicating a lower opening in Indian stock markets too.

U.S. stock futures are still thinly negative, not shown any signs of a recovery in early trading. European futures are also negative after a big drop in previous session triggered by the crash in U.S. stock markets.

Expect world stock markets to trade with choppiness and remain under pressure. U.S. stock futures could stage some technical recovery but a surging dollar could add to the pressure and volatility in smaller currencies and their stock markets.

Day traders should follow the trend in their local index. Right now, the previous low trend seems to have returned in global stocks and selling at high could be a better trading strategy.

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US Stock Markets Today: Choppy, Rangebound Intraday Trend

12 November 2018 (8:52 AM EST)

U.S. stock furthers have been trading with high volatility in today’s global session, indicating a similar choppy session in U.S. stock markets after the opening bell.

Dow Jones futures are trying hard not to lose -100 points and have been swinging between   big  and moderate losses.

If Dow Jones opens -100 points lower, it will fall below its 9-Day Moving Average on 4-hour’s chart, which will be a negative indicator by itself and will also push the indicator below its support level (25,900) on 4-hour chart, from where the index had bounced back in the last session.

As we know, U.S. stock markets were enjoying a bounce back this month after sharp fall in October, but now, there is a risk that this bounce back may end and push major index back within their current range. The fate of this bounce back from lower levels now hangs in balance and can be judged by trend lines on 4-hour chart of major indexes. This trend line is represented by short term Moving Averages (9 and 20 Days MA) and day traders can watch these MA to see how the trend shapes now.

On 1-hour chart also, Dow Jones closed below its 20-Day MA line, which is another negative signal and confirms that a short term negative trend could be starting in this index.

For intraday trading, day traders can take help of pivot levels of major stock indexes, even in our Pivot Trading page. Individually, these levels are:

Going by futures, U.S. stock markets are set for a negative opening today. After that, a initial volatile period could see markets trying to set an intraday high and low level. Day traders ca wait till these levels are created then trade with the trend in the direction of whichever level is broken.

If major stock indexes fall below previous low, that will be a negative sign for U.S. stock markets.

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