Mar 28, 2014, (9:14AM EDT)
People say love makes the world go round.
Nah, I disagree!
I staunchly believe that love (for money) makes (markets) go up!!
Look at DAX (Germany), look at Nifty (India)- all going up because Russian markets went up by nearly one percent!
And U.S. stock futures are following the lead, till now, trading with some positive gains.
Fight in Ukraine, run together in stock markets. Love (for money) can get superpowers do strange things, eh?
That is the story of world markets till now in a nutshell. The main Russian index MICEX10 staged a positive breakout early in the session and European and Indian markets followed the euphoria. Don’t ask why, just do as Russians do (in stock markets :))
U.S. stock futures are trading slightly higher at the time of writing so we just might see a bounce back in these markets. Yesterday, after an initial fall, U.S. markets had found support at lower levels and bounced back higher to close near the opening levels.
That makes yesterday’s low levels the new support for U.S. indexes and the high of yesterday will act as the first resistance.
S&P 500 has a support at 1839 but a closing below this will indicated further lower trend in the index.
Dow Jones survived levels of 16,222 and today, it would be better for traders to watch those levels.
Expect a highly volatile and range bound session in U.S. markets. Opening in these markets might be positive but there is no surety that markets will remain positive till the closing bell.
Good luck, have fun, have a great session in markets today!
See you later.