World Markets Today: Positive Within Previous Range, Choppy

17 November 2017 (8:54 AM IST)

16 November 2017 (10:27 PM EST)

U.S. markets jumped up in their overnight session, recovering at least one week’s losses, but still remaining range bound after positive news filtered in about the ambitious U.S. tax reforms.

Asia markerts had already turned positive yesterday on a technical bounce back and today, that positive uptick in continuing in most of the major Asian markets. Only China is negative. SGX Nifty is trading with big gains after rating improvement of India, indicating gap up opening in those markets.

U.S. stock futures are slightly negative, which is not unusually after previous big rally. But, European futures are trading negate, which is worrisome at this points. European markets are expected to follow the rally in U.S. markets but if that does not happen, then European sellers will continue to dominate their markets like previous many sessions.

Overall, global stocks are going up and down within a broad range. So watch the major support and resistance levels in your local index and follow the short term trend.

Good luck, enjoy the session!

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