US Markets Today: Choppy, Mixed Intraday Trading Pattern

11 December 2017 (8:35 AM EST)

European markets are trading mostly negative and U.S. stock futures have started fluctuating between red and green on a volatile day. Too many news reports are weighing on markets, so let us take a look at main points:

  • At 9 AM (ET), NBC News will air a sit-down interview of three women who have accused President Trump of sexual harassment.
  • Anchor Megyn Kelly will conduct these interviews on “Megyn Kelly TODAY” program. Any kind of serious, substantial allegations can affect market mood. On the other hand, if there is no substantial proof against Trump, then markets will ignore this event.
  • Alabama’s special Senate election will take place tomorrow (Dec 12). The bitterly fought election’s results are expected top start coming in by 8 PM ET and markets could turn jittery before that.
  • One Friday last, U.S. markets had opened with gap up and traded positive. However, on charts, Nasdaq made a negative candlestick by opening high but turning down from those high levels and closing much lower than that.

These factor can make U.S. markets range bound and volatile today.

Nasdaq is continuously facing profit booking at higher level while Dow Jones and S&P 500 are staying firm above their support levels. Expect a mixed opening and trading in U.S. markets today, where major indexes will trade within their intra day support and resistance levels.

Here are the Intra day pivot levels of major U.S. indexes to help you in today’s  trading:

Support/ Resistance for Dow Jones:

For Nasdaq:

For S&P 500:

For Russel 2000:

Traders should watch the opening levels of major indexes, how the trading pattern develops near those levels (resistance is stormer or support) and then trade with the trend.

Good luck, enjoy the session!

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