15 November 2018 (8:51 AM EST)
U.S. stock markets had another highly volatile session yesterday and in spite of early gains, major indexes collapsed later in the day and closed with big negative numbers.
Today, U.S. stock futures have been trading with choppiness during global session and are now turning negative near the opening bell in U.S. markets.
All technical levels have turned highly negative for these markets. Dow Jones was holding positive numbers for this month, but yesterday, the index fell below its monthly opening level and has now turned negative for the month. It also fell below its two crucial support levels during intraday trading yesterday. Those levels were 25,150 and 25,00. Although Dow Jones recovered to close above 25,500 but this intraday loss of more than -550 points ( from high to low mark) is enough indication of how strong the selling pressure was.
Expect another choppy and weak intraday trading session in U.S. stock markets today. Day traders can take help of pivot levels of major stock indexes to anticipate support and resistance. These levels are provided one our Pivot Trading page. Separate index levels are:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
For day trading, wait after the opening bell and let markets create an intraday trend. Then follow that trend till the trend line remain intact. Market volatility is expected to remain high like previous sessions.