US Stock Markets Today: Choppy, Rangebound Session Ahead

7 December 2018 (8:53 am EST)

U.S. stock futures have been hyper-volatile in today’s session, dropping down with big margins, then surging up , then falling again as if markets cannot make up their mind which way to go.

That is a warning signal for day traders that today’s session can turn very choppy and day trading can turn difficult with sudden moves in up or down directions.

Commodities are rallying, especially Oil prices are up b y more than 4%. Currency markets are being affected by this move and various reports from the U.S. economy are adding fuel to the fire making the Dollar index swing wildly.

All these factors can keep U.S. stock markets very choppy and rangebound in today’s session. The intraday range will remain within yesterday’s big range, if these markets trade negative. If these markets trade positive, the this week’s bigger range will dominate the trend.

For day traders, we have given intraday pivot levels on our Pivot Trading page. Use this level to see which levels dominate the intraday trading pattern. For various indexes, these levels are:

Expect a very choppy and rangebound intraday trend in U.S. stock markets today. The weekly is going to end in red for these markets. Today’s closing levels may provide some hint as to how the trend will develop next week- a continuation of this week’s declining trend or a reversal from support levels.

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