9 August 2018 (9:09 AM EDT)
US stock futures have been trading subdued since their opening in Asia session. This indicates that previous sideways and choppy trend will continue in U.S. stock markets today.
Yesterday, these markets had a mixed closing but, as we had written earlier, Dow Jones is still above its previous month’s close and till this index remains above 25,400 level, hopes of its continuous climb will remain alive.
Since major U.S. indexes have turned range bound, day traders will get help from Fibonacci and intraday pivot levels. These intrday levels are available on our Pivot Trading page. Individual index levels are:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
After the opening bell, watch which of these levels create today’s trading range. That means, where markets find support and where resistance stops price movement. After that, simply trade within those levels with the short term trend.