30 November 2017 (9:17 AM EST)
U.S. stock futures are again indicating a possible mixed trend in major U.S. indexes.
Dow Jones futures are higher by more than 100 points but futures of Nasdaq and S&P 500 are much subdued, indicating that tech stocks may continue to face pressure.
While Dow Jones looks set to open at or above another historic number of 24,000, Nasdaq Composite is expected to open near its new resistance level of 6,850. After yesterday’s big fall, Nasdaq will be required to trade above this level for turning range bound. However, if Nasdaq keeps below this level then it will be at a risk of continuing its previous slide in near term.
Dow Jones is reflecting market’s exuberance at impending final vote on Trump administration’s ambitious tax reform bill. This procedural vote is expected today or tomorrow.
After a high opening, U.S. markets can either continue to climb to new highs or turn sideways. Traders should just watch the day’s first high and low levels and then whichever level is taken out first, trade in the same direction.
Good luck, enjoy the session!