10 September 2019 (7:45 am EDT)
US stock futures are trading with minor negative numbers, indicating that this week’s very slow-paced and the narrow rangebound trend will continue today also.
The tech index Nasdaq has been under pressure on reports of government inquiry against Facebook and Google. This index could remain under pressure in early trading as markets will wait for Apple’s event later today. Apple’s shares are slightly negative in the pre-open trading and its trend later in the day could make or break the intraday trend in US stock markets.
As we have been discussing, US stock markets have become slow-paced as big traders and investors are waiting for the ECB’s meeting on Thursday and the central bank’s much-anticipated stimulus program. Till that event happens, we can expect bigger stock markets to remain lethargic within this week’s small trading range.
For day traders, we have provided intraday pivot Levels here. Separately, 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 another slow-paced, narrow trading pattern in US stock markets in this session. Day traders should watch the intraday range, then trade in a smaller timeframe if the range remains narrow.