16 November 2017 (8:35 AM IST)
15 November 2017 (10:09 PM EST)
U.S. markets closed highly negative in their overnight session on local political issues. surprisingly, S&P500 fell and closed much below its 20 -Day Moving Average, which indicates a breach in the trend line.
European markets have also been having a continuous negative trend on their own regional worries and DAX, the main German index, has now fallen just below its previous range level of 13,000. The index has fallen nearly 600 points since last week, thus wiping put the previous breakout gains and turning that breakout into what is called technically a “fake out.”
However, Asia markets are mostly trading positive, basically on. technical bounce after recent fall. Similarly, U.S. and European stock futures are slightly positive in this early trading, indicating a technical support at this point. It may or may not convert into a range bound (positive) session later in the day.
SGX Nifty is also flat, indicating a flat opening for India markets later today.
Expect global stocks to trade in a choppy manner. The intra day trend may remain mixed and range bound. Overall trend looks weak in current situation.
Good luck, enjoy the session!