24 January 2018 (8:23 AM EST)
Although U.S. stock futures are trading with positive numbers before the opening bell, but the continuous fall in the dollar index looks quite unusual.
It may be due to trade war worries between the U.S. and other nations, and if that is the reason behind dollar’s fall, then sooner or later stocks will also face the same worries.
European stock markets have turned negative and not showing any inclination to participate in U.S. stock futures’ rally. Right now, Dow Jones futures are up by more than+100 points. But day traders should only focus on how the index and broader U.S. stock markets trade after the opening bell.
Yesterday, U.S. stock indexes had a mixed trend. Nasdaq had rallied, S&P 500 closed positive but Dow Jones had closed with since diet negative numbers.
For today’s session, how these indexes will trend? This can be deciphered with the help of their pivot levels or intraday support and resistance levels, given on our pivot trading page. Or,check those levels here:
Day traders should do well by keeping their trade entry and profit booking targets near these pivot levels because that is where market-whales move their pre-fixed, algo-trading targets too. Trade with the trend, but be ready for volatility at such high levels in stock markets.
Previous session’s pre-market movements in U.S. stocks: