12 January 2018 (9:06 AM EST)
- Earnings season has started and U.S. stock markets can turn choppy as big companies announce their quarterly results.
- Facebook shares have fallen by more than -5% in Pre market trading.
- Apple shares are trading positive in pre market session, indicating support to the stock.
- Dow Jones futures are trading positive, but S&P 500 and Nasdaq futures have turned negative.
The intraday trading trend in U.S. stock markets can turn choppy now, as earning season starts and various companies declare their quarterly results.
Facebook (Nasdaq: FB) is prominent among stocks making big moves in pre market trading. The tech companies shares have fallen by more than -5% before the opening bell in markets on reports of changing its new feed which will have negative impact on its news readership.
Apple (Nasdaq: AAPL) is trading slightly positive in pre market trading but the stock is trading near its range resistance levels and may turn range bound at current levels.
Today, Dow Jones futures are still trading positive but futures of S&P 500 and Nasdaq have turned negative after a healthy start, indicating a mixed and volatile day trend in U.S. stock markets after yesterday’s big rally.
Day trading in such market conditions becomes quite uncertain and day traders should have short targets with exits planned near support (if selling stocks) or resistance (if buying stocks) levels.
If you are day trading in U.S. stock markets for a living, then utilize these intraday support and resistance levels of major U.S. indexes, given on our Pivot trading page. These include:
A mixed intraday trend would mean day traders will have to focus on their chosen stocks or indexes and trade within the pivot levels of that entity. Support and resistance levels will be the best intraday trading tools in such market conditions.
Use those tools and trade with the short term trend which may remain highly volatile in U.S. stock markets today.
Yesterday’s trend analysis in U.S. stock markets: