21 August 2017 (9:06 AM EDT)
U.S. stock futures are trading slightly lower today and European markets, as expected, have continued with their lower trend.
Major U.S. indexes have had two highly negative weeks. Last Friday, Dow Jones had stopped near its support level of 21,650. Today, the index can either trade lower and retest this support or trade marginally higher in which case, it will face resistance near 21,750 and 21,800 marks.
U.S. markets are expected to trade sideways and remain range bound within last session’s high and low levels as investors wait for central bank comments from annual Jackson Hole summit. Volatility levels may also remain high as major indexes battle between support and resistance levels.
Expect a choppy session in U.S. markets today. The intra day trend will either remain negative or turn range bound. Watch how major indexes trade after the opening bell and follow the same trend.
Good luck, enjoy the session.