1 September 2017 (9:00 AM EDT)
Last month’s labor market reports have missed estimates, and U.S. stock futures have risen in cheers, hoping that an increase in unemployment rate and decreased job growth will make the Fed go slow with its rate hike plans.
Another gap up opening awaits U.S. markets today and Dow Jones is expected to open near 22,000 mark. But after that, markets may turn slow paced and narrowly range bound.
If that happens, then expect a boring trading session where major indexes will move like a snail, within a band-aid like narrow track.
On the other hand, we never know for sure how markets will behave on any given day, so the other possibility will be and extended positive session where major indexes will add to their gains.
Don’t overlook the third and slightly disappointing possibility of major indexes making an about turn after a high open, and come down to close at levels lower than today’s opening.
Wait and watch which of these three possible trends develop in markets after the opening bell, then trade accordingly.
Good luck, enjoy the session!