15 May 2019 (9:32 am EDT)
U.S. stock markets have once again opene d negative which has created a rangebound trend for these markets. this range is created by the last two sessions that saw down and up intraday trends on alternate days.
As discussed before, as long as any index stays above previous closing or previous low level, it will stay range bound but a breakdown below previous low mark will trigger another wave of declining.
Daily pivot levels will indiacte the intraday range levels. We have provided these levels on our Pivot Trading page. 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 U.S. stock markets to trade within last two sessions’ range. Markets volatility could reamin high which is usual in rangebound trend. Day traders should watch markets and when intraday range levels become clear, then trade with the short term trend.