6 September 2017 (9:10 AM EDT)
U.S. markets are set to enjoy an opening bounce back after yesterday’s big fall.
High futures are indicating that Dow Jones will open above its major support of 21,800.That means the index and broader markets will turn range bound. Above this level, 21,850 will present day’s first resistance.
Likewise, other major indexes are also expected to trade within their last session’s range.
In such conditions, once again, there will be two trend possibilities after the opening bell- a narrow range bound positive session or, a “high open and low closing” session where markets will trade lower than the opening levels.
Watch how major indexes behave in the initial hour and follow the short term trend.
Good luck, enjoy the session!