20 April 2018 (9:02 AM EDT)
U.S. stock futures have been trading with very high volatility through the session, indicating a equally choppy intraday trend in U.S. stock markets after the opening bell.
The trend may remain mixed with tech stocks showing more vulnerability than others.
European stock markets are also trading with mixed number and staying in a small range.
Dow Jones had closed near its minor support level (24,660) and is expected to trade within last session’s high and low marks. the 30-minutes’ chart will be good help for day traders to spot the trend direction and support/ resistance levels in this index. Going by yesterday’s trading pattern, Dow Jones has support near 24,600 and 24,550 marks while 24,730 and 24,800 represent current resistance levels.
If any indexes falls below previous session’s low mark, then more losses can be seen in that index.
The trading pattern will remain highly volatile and major indexes could continue to bounce from minor supports and turn down from resistance levels.
U.S. stock markets have shown a trend reversal in last 2-3 sessions and that reversal will either deepen today or take a pause within previous session’s trading range.
Overall trend in rage bound since last couple of months in these markets. Short term trend keeps changing between up and down. Day traders should adapt their trading strategies according to the dominating trend.