3 December 2018 (8:38 am EST)
U.S. stock futures are more than 1.50% high on a trade deal between the U.S. and China, which in reality, did not happen.
One wonders how high Dow Jones futures would have jumped if a trade deal REALLY took place.
Dow Jones futures are 430 points higher at the time of writing and futures of other major stock indexes are equally high. This indicates that U.S. stock markets will open with highly positive numbers (if futures do not decline before the opening bell).
However, since this jump in futures has no foundation, it is possible that after the opening jump, U.S. stock markets turn down form those high levels and trade sideways. This sideways trading could be in a narrow range or in a broader range.
A narrow range would keep these markets highly positive while a broad range would mean markets will come down form their high horses and trade lower than their opening levels.
Day traders can use intraday pivot levels ( given on our Pivot Trading page) to see important support and resistance levels. 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
Expect a higher opening in U.S. stock markets today but the intraday trend may remain highly volatile like previous many session and could turn rangebound between important resistance (higher) and support (lower) levels.