US Stock Markets Today: Lower Opening, Rangebound Trend

12 August 2019 (9:20 am EDT)

As we wrote in the previous post, US stock futures fell with big margins on worries about strife escalation in Hong Kong.

There has not been much recovery in these numbers and now we are looking at a highly negative opening in US stock markets today.

Despite that, major US indexes are expected to trade with their last two sessions’ trading range. As seen on daily charts, major indexes had a gap up opening last Thursday and traded within the same range on Friday. Today also, the same trading range is expected to be in play for these indexes.

For bigger intraday range levels, check our Pivot Trading page where daily support and resistance levels are provided. These levels are:

Expect US stock markets to open lower but trade sideways within the previous range. Dow Jones is safe in this range as long as the index trades above 26,000. The risk of a negt8ave trend will arise only if Dow Jones falls below this support level.

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