US Stock Markets Today: Choppy after Low Opening

8 October 2018 (9:03 AM EDT)

U.S. stock futures are trading highly negative with European stock markets. These numbers indicate that U.S. stock markets will also open lower in today’s first session of this week and it looks like, major indexes will open near last week’s lowest point.

Dow Jones furures are down by more than -130 points before the opening bell and this index is expected to open near its next support level of 26,300.

If major indexes fall, and stay, below previous week’s lowest point, then this will be a negative signal and major indexes will be at risk of more losses in short term.

Intrady pivot levels of major stock indexes (given at our Pivot Trading page) can help in finding which support or resistance levels dominate markets thorough the session today. These individual levels are:

Day traders should wait for markets to stabilize after the initial volatile trading of a gap down opening. Once an intraday trend becomes clear, then traders can trade with that trend.

U.S. stock markets are returning from their all-time high levels so the broader trend has become rangebound. As usually happens in rangebound markets, volatility levels may remain quite high and the trading pattern can turn choppy.

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