18 October 2019 (8:40 am EDT)
In this last session of the week, US stock futures are again trading in a narrow range, showing that US stock markets will continue their narrowly range bound and choppy trend.
As we have been writing previously, US stock markets are trading near their range-top levels and only some big, positive news can push these markets over their current range resistance levels. Since there is no negative news so markets are not going down. This has created a narrow range for US stocks.
For day trading, one can use pivot levels provided 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
US stock markets are expected to open flat and trade sideways like the previous few session. The trading range is not big so smaller timeframes will be needed for intraday trading. Use both support and resistance levels and trade with the short term trend, rising or falling from these levels.