16 April 2019 (8:59 am EDT)
U.S. stock futures are trading with big gains, indicating that after yesterday’s breather, today U.S. stock markets are ready to break out of last two week’s trading range.
As we have seen, usually such big openings turn the intraday trend into a sideways, slow-paced trading pattern. Another possibility always remains that stocks will continue to climb even after a gap up opening.
That is why it will be prudetn for day traders to wait after the opening bell and watch which of these two intraday trends will take shape in U.S. stock markets today.
A broader intraday trading range for major indexes can be deciphered with the help of daily pivot level that we have provided on our Pivot Trading page. These levels are:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
Expect U.S. stock markets to continue with the monthly and weekly uptrend. The daily trend will depend on how stock markets behave after a gap up opening in today’s session. It can either continue to trade up or turn rangebound within this week’s range levels.