14 March 2019 (8:49am EDT)
U.S. stock futures have been trading with choppiness and thin margins. This hints at a similar mixed trend in major U.S. indexes after the opening bell.
As we wrote previously, Dow Jones is range bound this week but Nasdaq in an uptrend. Today, the initial range for these indexes will be between previous high and low levels.
If any of the indexes cross above previous high level, then yesterday’s uptrend will continue in that index. However, if any index, such as Dow Jones, dip below previous close, then it will become range bound.
A broad intraday range can be identified by support and resistance levels. These levels are given 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 a choppy intraday trend in U.S. stock markets in today’s session. Major indexes are trading in different monthly and weekly patterns. Expect this mix trading pattern to continue in major U.S. stock indexes today also.