31 October 2019 (8:34 am EDT)
As we discussed previously, Dow Jones is still rangebound, and its current range-resistance level is forcing it to turn down.
Today, lower stock futures are indicating a negative opening in US Stock markets. This is a technical trend, where major indexes are expected to trade within their previous session’s trading range.
At the time of writing, US stock futures are moderately negative, so we can expect a lower opening in US stock markets. The intraday trend is expected to stay sideways.
We have provided intraday range levels 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
After yesterday’s rally, US stock markets are expected to trade with choppiness in this session and stay within the previous session’s trading range.
The best day trading strategy will be to follow the technical signals within support and resistance levels and trade with the short term trend within important range levels.