16 May 2017 (9:16 AM EDT)
U.S. stock futures have turned enthusiastic today after many disappointing economic reports . The Dollar index is tumbling and commodities are rallying; all adding to the shine of stocks. Markets are hoping that this week’s bad economic reports will stop the Federal Reserve from hiking interest rates in the central bank’s June meeting.
Dow Jones is expected to open near 21,030, which is a minor resistance in its current range. After that, 21,070 and 21,170 are other resistance levels for this mega index and if Dow Jones crosses above these levels, we’ll have another wave of higher trend ahead.
Till that happens, this index and broader U.S. markets will continue to trade within a range, near the top levels.
U.S. markets will have two trend possibilities- turn range bound after a high open, or continue to climb up.
Watch how markets choose to trade after the opening bell, then follow that trend.
Good luck, enjoy the session!