18 October 2018
U.S. stock markets closed negative in their overnight session and U.S. stock futures have been trading highly negative during early trading in Asia session and before the opening of European stock markets.
Indian stock markets are closed today for local festive holiday but NSE Nifty’s futures index, SGX Nifty (in Singapore markets) fell with big numbers during U.S. session, after the Federal Reserve’s meeting minutes indicated more rate hikes and the Dollar index climbed up.
European stock futures are also negative, indicating a weak opening in these markets.
U.S. stock futures are dominating the global trend like previous week. Expect a negative trend in world stock markets as U.S. futures continue to slide lower.
Last week’s downtrend in U.S. and global stocks has returned after this week’s early bounce back. This has created a new and small trading range between last week’s low levels and this week’s high levels. Day traders should watch for support or resistance within these levels and trade with the short term trend within this new range.
Right now, that trend looks negative and resistance levels look stronger than support levels.
17 October 2018 (9:07 AM EDT)
U.S. stock futures are indicating a low opening in U.S. stock markets today. That means major indexes will open within yesterday’s trading range. After that, these indexes will either trade within previous range, or restart their previous downtrend.
The focus will be back on tech stocks. The trading pattern of Nasdaq will dominate U.S. stock markets like last week.
After yesterday’s surge, U.S. stock markets are now expected to trade within previous week’s trading range. Due to this technical reason, markets can trade either up or down to complete this range. Day traders can take help of intraday pivot levels, given on our Pivot Trading page, to see if markets are getting support or facing resistance. For major indexes, these levels are:
Expect U.S. stock markets to trade with choppiness today and remain sideways within their current trading range. Day traders should wait for market-volatility to cool down and then follow the intraday trend in these markets.
17 October 2018 (8:58 AM IST)
As we wrote previously, Indian stock markets were getting support near major technical level and Nifty was showing hints of a minor uptrend. Bank Nifty was rangebound but yesterday, this banking sector index jumped up and joined Nifty by breaking out of its current range.
SGX Nifty is indicating at least a 100 points’ opening jump in Nifty, which will take it close to its resistance of 10,65o. Day traders should watch how Nifty trades near this level now. If this level acts as a support, then Nifty will continue with its minor uptrend. If this level acts as a resistance then Nifty may turn range bound at current levels.
We have give intraday pivot levels for major stock indexes on our Pivot Trading page. Day traders can check those levels to see the intraday trading range levels of these indexes. Individual levels are:
As usual, day traders should wait for markets to become stable after a big gap up opening. After that, once a clear trend emerges, trade with that trend.
17 October 2018 (8:58 AM IST)
16 October 2018 (11:28 PM EDT)
After a overnight big rally in U.S. stock markets, world stock markets have jumped in their opening session.
all major Asian stock markets are trading with considerable gains. SGX Nifty is trading with more than 100 points’ gains, indicating an equally big gap up opening in Indian stock markets soon.
The only glitch in this high opening session in global stock is coming from U.S. and European stock futures that are quiet after big rallies in their previous session and are trading below the red line.
This subdued trend in these big stock futures can keep global stocks in a choppy trend. Like previous many sessions, U.S. stock futures will dictate the global trend.
Day traders should trade with the trend in their local markets and be alert for any trend changing or sudden choppiness in intraday trading pattern.
16 October 2018 (9:08 AM EDT)
As we had written previously, U.S. stock markets have created a new trading range between high and low levels of last Thursday & Friday’s trading sessions.
Today, U.S. stock futures are trading with big gains after a lower closing yesterday, thus confirming this rangebound trading pattern.
At the time of writing, higher stock futures are indicating that major indexes may open near their previous high levels. After that, these indexes will either trade rangebound or face resistance and climb down lower from opening high levels.
Day traders can check intraday pivot levels to see which levels are supportive and which act as resistance to major indexes. these pivot levels for individual indexes are:
As we have seen previously, U.S. stock markets are highly volatile and unpredictable -especially where positive openings are concerned. So, day traders should wait for markets to settle after the opening choppiness, wait for a clear trend to emerge in markets, then trade with that trend.
16 October 2018 (8:42 AM IST)
Indian stock markets had already been in a strong downtrend before U.S. stock markets had started their current fall. That is why now, Indian stock markets are now trading sideways in spite of bigger falls in global stock markets.
Till now, Nifty has been showing inclination to going towards higher levels and Bank Nifty has been reluctant to go higher than its current range. This mixed trend in major indexes has kept these markets highly volatile.
Day traders can use intraday pivot levels on our Pivot Trading page to decipher what levels provide support to these indexes or what levels create resistance. Check these pivot levels here:
Indian stock markets may remain choppy due to global volatility and rupee’s trading patter. The long term trend is down in these markets and the short term trend is rangebound.
16 October 2018 (8:42 AM IST)
15 October 2018 (11:11 PM EDT )
U.S. stock markets have become rangebound within last Thursday and Friday’s trading range. That fact has given some relief to global stock markets and Asian stock markets are trading positive at the time of written.
At this hour, U.S. and European stock futures are also positive but- as we know now, there is no certainty how long this positive tilt will survive in U.S. stock futures. We have seen in last few sessions how quickly and with how big margins U.S. stock futures can change their trend. That uncertainty is expected to keep global stocks highly volatile and rangebound in their current session.
SGX Nifty is also flat, waiting for Indian stock markets to open and take an intraday trend.
Expect world stock markets to trade under pressure ad remain highly volatile i this session too. U.S. stock futures will dominate global trend. As we have written previously, the current slide in U.S. stock markets has bee triggered by big troubles for big tech companies. So big, that the mainstream media is keeping quite on these issues.
The current pause in last week’s fall in global stocks is just a lull before another wave of storm breaks out. So, day traders should continue to trade cautiously, keep strict stop loss in all their trades and strictly follow the trend which looks sideways at this times but can turn negative if U.S. stock futures decline.
15 October 2018 (8:48 AM EDT)
U.S. stock futures are repeating the last week’s highly volatile trading pattern, swinging down with big cuts then recovering almost all losses. This indicates that U.S. stock markets will also trade with the same choppiness that we saw last week.
Last week’s low levels are expected to act as the immediate support for U.S. stock markets. Especially Dow Jones has a strong technical support near 25,000. The index fell below this support twice last week but recovered and closed much above the mark of 25,000. This support could be tested once again today. If Dow Jones falls below this level- and stays/ closes below this crucial support, then we may see another negative wave in U.S. stock markets and perhaps in global stocks too.
Today’s immediate trading range will be between last session’s high and low levels. Day traders can take help of intraday pivot levels (given on our Pivot Trading page) to see how broad the intraday trading range spans in major stock indexes. These levels are:
Expect U.S. stock markets to trade with high volatility and most probably trade under pressure. The trading pattern can remain very volatile so day traders should be cautious and wait for markets to create an intraday trend. This trend can be sideways within last week’s high and low levels or turn negative like last week’s early sessions.
15 October 2018 (8:31 AM IST)
Indian stock markets have turned rangebound and have been trading up and down on alternate day with big numbers.
SGX Nifty is trading within its previous range and Indian stock markets are also expected to trade within their last two week’s broad range.
Rupee is slipping down against dollar and global cues are negative. These two factors can keep Indian stocks highly volatile just as we saw in last few sessions.
As we have been written, after a big slide, major Indian stock indexes had found support near their crucial fibonacci levels and have been holding up this support.
Right now, this bounce back from support levels has been confined in a range but it can go in either direction, based on how rupee trades.
Day traders should be ready to trade with markets, in any directions. Intraday pivot levels can help them check the trading range of today’s session. These levels are given on our Pivot Trading page. Levels for individual indexes are:
As usual, the best trading practice would be to wait for markets to settle down and create a clear intraday trend. After that it will be easy to trade with that trend.
Expect a choppy and rangebound trading trend in Indian stock markets today. Last week’s high and low levels will make the immediate trading range for these markets. Whichever level is breached, markets will most probably trade further in that direction.
15 October 2018 (8:31 AM IST)
14 October 2018 (11:01 PM EDT )
World Stock Markets have stared the new week with red numbers as U.S. stock futures turn negative and anxiety over lasts week’s big drop in U.S. stock markets returns to haunt global stocks.
Last Friday, U.S. stock markets had seen extreme volatility when Dow Jones went up and down by a margin of 400 points and finally closed positive with 287 points’ lead after turning negative in the mid-session.
Today, U.S. stock futures have resumed their downtrend and global stocks are following that negative trend.
All major Asian stock markets are trading negative at the time of writing. U.S. and European stock futures are considerably negative. The Dollar index is trading higher, putting pressure on emerging market currencies & equities. SGX Nifty is slightly lower, indicating a flat opening in Indian stock markets today.
Expect world stock markets to trade with high volatility and follow the trend in U.S. stock futures, which is negative at the time of writing.
Big tech companies are facing big troubles and the kind of drop U.S. stock markets have seen last week- and seem ready to repeat this week, is an indication of how big these troubles are.
Day traders should trade cautiously and with stop loss in all their trades. They should follow the trend in their local index and be ready to exit positions at the first indication of trend change. In these volatile market conditions, there could be very big price movements in short time span and it would be better to book profit/ exit trades quickly instead of getting trapped in sudden price moves.