4 October 2019 (8:27 am EDT)
At the time of writing, US stock futures are trading negative. If this lower trend in futures continues till the opening bell, then US stock markets will also see a lower opening. Despite that, US stocks will remain within yesterday’s broad range.
As we wrote earlier, the candlestick pattern is indicating a trend reversal from lower levels. To confirm that reversal, US stocks will need to trade above the previous closing. Any lower opening or lower trend will create a rangebound trend in these markets.
Know the daily range levels by pivot levels given on our Pivot Trading page. For important indexes, these levels are:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
Till the time of writing, US stock futures are indicating a lower opening, but a rangebound intraday trend. After the opening bell, day traders should let markets create an intraday range, then trade with the short term trend within those range levels.