8 April 2019 (9:27 am EDT)
U.S. stock futures are trading mildly positive after yesterday’s considerable losses.
This indicates that U.S. stock markets will remain within their last week’s trading range, at least initially.
After that, if the trend turns sideways then we can expect some recovery from previous losses. However, if U.S. stock markets again start declining then last week’s low levels will be tested and as long as that low support is in place, the intraday trend will stay rangebound.
Day traders can check intraday pivot levels given on our Pivot Trading page to know the broader trading levels of major stock 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
Expect U.S. stock markets to trade with high volatility and remain rangebound within last week’s support and resistance levels. The trend will change only when markets break out of one of these levels.