US Stock Markets Today: Choppy, Range Bound Intraday Trend

11 February 2019 (8:55 am EST)

U.S. stock markets had a extremely volatile session last Friday, where major indexes first crashed and then recovered most of those losses to close with mixed numbers. All major indexes, except Dow Jones, closed in the green territory in that last session of the previous week.

Today, U.S. stock futures are trading with a similar volatile pattern; starting the session with negative numbers and then turning positive with healthy gains.

The opening bell is still half an hour away in these markets and there is no certainty if these positive futures will last till then and if they do, how positive will be the opening in U.S. stock markets today.

No matter what kind of opening U.S. markets session today, major stock indexes will remain range bound in their last 3-4 sessions’ high and low levels. Based on their last session’s high and low points, major indexes have created new intraday pivot levels that we have provided on our Pivot Trading page. These levels are:

Since these markets have turned range bound, it would be better if day traders wait before starting their trades and let markets show if support is stronger or resistance. Once that becomes clear, day trading will becomes easy and traders can buy (if markets bounce from support) or sell (if markets reverse their trend from resistance levels).

Expect a choppy and mostly rangebound session in U.S. stock markets today. Dow Jones had survived its major support of 25,000 last week. As long as this ind trades above 25,000 it will avoid the risk of falling back in to the downtrend of last year.

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