14 August 2019 (8:52 am EDT)
US stock futures are trading highly negative on diplomatic tension between China and the US on Hong Kong unrests.
The highly negative futures are indicating a gap down opening in US stock markets today, but that will only take these markets near yesterday’s opening levels and in effect create a rangebound trend.
After the low opening, US stocks will either trade sideways within the previous trading range or continue to fall, withing this week’s range.
If US stock markets incur even more losses, still these markets will stay within the previous week’s trading range. Thus, we are going to see a broad, rangebound trend in these markets in this session.
Use pivot levels provided on our Pivot Trading page to know intraday range levels. For major indexes, these levels will be:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
Expect US stock markets to trade with high volatility similar to previous few sessions. Any positive or negative news can trigger extreme volatility in markets as we saw yesterday. In such conditions, day traders should trade with cautions and never take eyes off their trades. It goes without saying that keeping strict stop loss in all open positions is a must.