US Stock Markets Today: Big Opening Losses, Choppy Trend

6 December 2018 (8:31 am EST)

U.S. stock futures have been trading with big losses through the global session and at the time of writing, those highly negative numbers are pointing to a big gap down opening in U.S. stock markets today.

Dow Jones futures are trading with nearly -400 points’ loss, indicating that this index will open somewhere between  24,700- 24,600 levels. Just two sessions ago, this index was touching 26,000 and now, it is entering mid-24,000 range. This indicates how ferocious this week’s downtrend has been in this index and broader U.S. stock markets.

But then, last week’s rally was equally quick so no one should be surprised at this strong  trend reversal.

For day traders in these markets, the same trading strategy will apply that we had suggested for traders in other markets. Wait for markets to recover, then sell if the trend again turns down from any resistance levels. These intraday support and resistance levels are given on our Pivot Trading page. Pivot levels for major stock indexes are:

The weekly downtrend in U.S. stock markets has shown a lack of any bounce even after a big fall in the previous session. This indicates that there is still a strong downside risk to these markets.

Expect a choppy intraday trend after a gap down opening in these markets, which will be due to technical reasons. After that, we will have to wait and see if the downtrend returns and continues or markets hold on to some support and recover by the closing bell.

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Indian Stock Markets Today: Highly Negative Open, Slow Intraday Trend

6 December 2018 (8:56 am IST)

SGX Nifty is indicating a very low opening in Indian stock markets, following the highly negative trend in global stock markets.

Also, as we have been pointing out, rupee is sliding back again, as dollar is rising from its support levels against the India currency. Both the global trend  and currency cues are putting pressure on Indian stock markets currently and these markets are also expected to continue with their trend reversal from current range high levels.

For day trading, there is nothing more than to wait for some recovery in these markets after a gap down opening. Every recovery will attract fresh selling so day traders should wait for markets to indicate reversal once price recovers and reaches near any resistance level. We have given these intraday support and resistance levels on our Pivot Trading page. For major indexes, these levels are:

Wait, watch and trade only with the trend. Markets can remain very choppy if global cues turn volatile later in the session.

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World Stock Markets Today: Highly Negative, Downtrend Becomes Stronger

6 December 2018 (8:56 am IST)

5 December 2018 (10:27 pm EST)

Highly negative U.S. stock futures have sent world stock markets tumbling down in today’s Asia session.

Dow Jones futures have been trading down with losses of more than -300 points, coming close to. -400 points loss at times.

European stock futures are also showing losses of more than -1.50%.

All major Asian stock markets are trading with deep cuts. SGX Nifty is down by nearly -100 points, indicating a big gap down opening in Indian stock markets today.

Basically, global stocks are coming back to from  where they had started their false hope rallies last week. Also, since world stock markets are trading in a wide range this year, rallies form support and downtrends from resistance levels are normal behavior for stock markers inn such conditions.

Day traders may not get much to do in such conditions where markets open with deep cuts. All they can do is wait for the second half and once markets have recovered slightly, then trade with the downtrend.

Expect world stock markets to continue with this week’s downtrend and trade within previous week’s trading range.

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Indian Stock Markets Today: Lower Opening, Choppy on RBI Policy Meeting

5 December 2018 (8:53 am IST)

SGX nifty is indicating a gap down opening for Indian stock markets today, but the intraday trend may remain choppy and rangebound as markets wait for policy meeting of the Reserve Bank of India.

The RBI will announce its short term monetary policy lat in the afternoon and this can keep markets highly volatile and speculative. Rupee’s trend can turn choppy and with that, major Indian indexes may also trade with choppiness.

On the other hand, if these markets decide to follow global cues, then we may see a continuous decline through the session in major indexes.

Day traders can use intraday pivot levels given on our Pivot Trading page to see support and resistance for major indexes. These levels are:

Wait for markets to stabilize after a gap down opening, then follow the intraday trend within these pivot levels.

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World Stock Markets Today: Negative Trend Gets Stronger As Hope Rally Ends

5 December 2018 (8:53 am IST)

4 December 2018 (10:24 pm EST)

U.S. stock markets crashed in their overnight session and Dow Jones lost -800 points once those markets realized that they were rallying on wrong notions about the Fed’s rate plan and U.S-Chinna trade war talks.

These markets had rallied last week on false hopes of Fed’s rate hike pause and China- U.S. trade war resolution. Dow Jones had gained 1,000 points on those false hopes.Now when the reality has sunk in, that the Federal Reserve is still going for another rate hike in December and there is still no resolution in U.S.-China trade war, U.S. stock markets are inn a hurry to give up all those gains.

World stock markets are following in their footsteps by trading negative in today’s session in Asia. All major Asian stock markets are down, although not with as big margins as U.S. stocks. SGX Nifty had rallied big with U.S. stocks and now this Nifty futures index is down by nearly -60 points, indicating that Indian stock markets will also shed some of those false gains.

U.S. futures are trading marginally higher today inn Asia session but it is of no consequence as U.S. stock markets will remain close on Wednesday in mourning, in honor of President George H.W. Bush.

Expect world stock markets to trade with choppiness with weakness. This week and month’s trend has turned highly negative and intraday trend will also face the selling pressure within daily range.

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US Stock Markets Today: Hope Rally Fades, Trend Becomes Weak

4 December 2018 (8:46 am EST)

Like every other hope-rally in stock markets, last week’s rally in U.S. stock markets has also faded. Negative U.S. stock futures are indicating a weakness in current trend which is expected to remain rangebound within last two session’s trading range.

Apple has been downgraded again and is trading -2% down in pre-open markets. This will again put pressure on Nasdaq. Other big names like Facebook, Microsoft, Tesla, Netflix are also trading negative in pre open trading.

Dow Jones futures are down by -100 points at the time of writing, indicating a gap down opening in this trend-setting index along with other major indexes.

However, even a -100 points low opening will keep Dow Jones within previous session’s trading range and only if the index falls below previous low, a minor downtrend can come closer to this index and broader U.S. stock markets.

Till that happens, day traders should consider these markets to be in a sideways trend and watch intraday pivot levels to know range support and resistance levels for intraday trading. These levels are given one our Pivot Trading page. Different index levels are:

Like yesterday, today’s closing levels will be more important for short term trend inn these markets. Expect a choppy and rangebound trading in U.S. stock markets today. Tech sector and its index Nasdaq may dominate the intraday trend in these markets again.

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Indian Stock Markets Today: Under Pressure on Rupee, Global Cues

4 December 2018 (8:42 am IST)

We had warned about a slide in rupee yesterday, and have been writing previously that dollar is about to rise against rupee since it has entered highly oversold territory on daily charts. True to that, dollar rose against rupee and now rupee is trading close to 71 again, putting pressure on India stock markets.

Bank Nifty had a negative closing yesterday but Nifty is still trading within a range. Today’s negative global cues could put pressure on Nifty too and keep Indian stock markets under pressure.

For day trading, we have provided intraday support and resistance levels on our Pivot Trading page which will help day traders decipher the intraday trading range of major indexes. These levels are:

Wait for markets to establish an intraday trend for today’s session, then trade with that trend for short duration since markets may remain choppy like previous many session.

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World Stock Markets Today: Negative Start, Rangebound Trend

4 December 2018 (8:42 am IST)

3 December 2018 (10:12 pm EST)

World stock markets have opened with negative numbers in this second session of the week, as markets finally realize the reality of unresolved U.S.-China trade war.

U.S. stock futures are trading with highly negative numbers. European futures are also down considerably. All major Asian stock markets were earlier trading with red numbers but now, China has recovered slightly and turned positive. SGX Nifty is trading slightly negative indicating a similar slightly lower/flat opening in Indian stock markets today.

Although U.S. stock markets had closed with highly positive numbers in their overnight session, on charts major U.S. stock indexes have made a negative candlestick which shows that these indexes closed lower than their opening levels. If U.S. futures continue to trade negative and U.S. stock markets open with a gap down, then it will create a bearish reversal pattern.

As we keep writing, for successful day trading, long term timeframes must be considered. This week & month had started with positive numbers but on charts, it is possible that a bearish reversal pattern starts emerging in different markets.

Day traders should keep an eye one major Moving Averages support and resistance on weekly and monthly charts, and be careful near those levels while day trading.

For intraday trading, daily pivot levels will provide good indications of support and resistance and can be used for understanding the intraday range.

Expect a subdued trend in world stock markets where the intraday can remain choppy and within last week’s trading range.

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US Stock Markets Today: High Opening, Rangebound Intraday Trend

3 December 2018 (8:38 am EST)

U.S. stock futures are more than 1.50% high on a trade deal between the U.S. and China, which in reality, did not happen.

One wonders how high Dow Jones futures would have jumped if a trade deal REALLY took place.

Dow Jones futures are 430 points higher at the time of writing and futures of other major stock indexes are equally high. This indicates that U.S. stock markets will open with highly positive numbers (if futures do not decline before the opening bell).

However, since this jump in futures has no foundation, it is possible that after the opening jump, U.S. stock markets turn down form those high levels and trade sideways. This sideways trading could be in a narrow range or in a broader range.

A narrow range would keep these markets highly positive while a broad range would mean markets will come down form their high horses and trade lower than their opening levels.

Day traders can use intraday pivot levels ( given on our Pivot Trading page) to see important support and resistance levels. For major indexes, these levels are:

Expect a higher opening in U.S. stock markets today but the intraday trend may remain highly volatile like previous many session and could turn rangebound between important resistance (higher) and support (lower) levels.

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Indian Stock Markets Today: High Open, Choppy on Rupee’s Trend

3 December 2018 (8:45 am IST)

For Indian stock markets today, Rupee’s trading pattern could signal some trouble as dollar is now rising form support levels against this Indian currency.

That is why SGX Nifty has been continuously declining after a higher open and even though this Nifty  futures index is still nearly 50 points higher, the intraday trend in Indian stock markets can remain choppy.

Technically, as long as major Indian indexes trade above their previous session’s closing level, they will remain in minor uptrend. If they fall below previous session’s closing, then the trend will turn rangebound.

Day traders can check intraday pivot levels of major indexes to see minor support and resistance levels. These levels are given on our Pivot Trading page. For individual indexes, these levels are:

Day traders should wait till markets get over the opening volatility and create an intraday trend. Then just follow that trend with the trendline.

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