8 January 2019 (8:37 am EST)
U.S. stock futures and European stocks are rallying on hopes about U.S.- China trade talks. Around half an hour ago, President Trump tweeted “Talks with China are going very well!” which added more gains to U.S. stock futures.
At the time of writing, Dow Jones futures are up by 220 points. Futures of other major indexes are also trading with big gains.This means we are going to see a big gap up opening in U.S. stock markets today- if these futures continue to trade higher till the opening bell.
on technical charts, U.S. futures are trading above the high levels of their previous session. That indicates a strong support and a positive breakout in major indexes from their current, smaller range. President Trump is also going to address the nation on Tuesday night and markets are hoping, he will take steps that will help to the the partial government shutdown currently going on.
So, at this time, it seems that U.S. stock markets are surrounded by positive news, after being bogged down by negative events in the closing days of 2018.
Day traders can wait after the high open, let markets take a breath and if the rally continues, then join the uptrend. Intraday pivot levels are given on our Pivot Trading page. For major indexes, these levels are:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
Looking at the rally in U.S. stock futures, the only question remain, will this rally continue even AFTER the opening bell and what will be the closing levels in U.S. stock markets today? Going by the recent ultra-crazy movements in these markets, it is safe to say, any level is possible!
Let us wait and see how U.S. stock markets trade after the opening bell. Going by the changed, positive circumstances- at this hour- it looks like we are going to witness another big rally in these markets today.