14 May 2019 (9:14 am EDT)
After yesterday’s big fall, U.S. stock futures have been trading positive and indicate a positive opening in U.S. stock markets today.
That will keep U.S. stocks within yesterday’s trading range and the intraday trend will be rangebound if U.S. stock markets do not start falling again.
The intraday range levels can be anticipated with the help of daily 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
We had one positive session in these markets on Friday but that did not sustain and yesterday, U.S. stocks crashed with big numbers. Today’s session is expected to start positive but a solid support or trend reversal will only be confirmed when major indexes start making “higher low” trading pattern on 5-hour charts.
Until then, the broader trend will remain and the intraday trend is expected to be rangebound. In these market conditions, the best day trading strategy will be to wait and watch and see if support levels are stronger or resistance. Then trade with the dominating trend in the same direction with markets.