US Stock Markets Today: Uptrend, But Range Bound Intraday Trend

11 June 2019 (9:13 am EDT)

U.S. stock futures are continuing their weekly uptrend, showing may remain that U.S. stock markets will again open with a gap up. But, the intraday  trend may remain within  yesterday’s high and low levels.

As we know, U.S. stock markets had rallied in the opneing session yesterday, but then trimmed their gains and closed much lower than the day’s high mark. That created a small range and today’s high opening will keep these markets within that range. If major indexes start trading above the previous high mark, then the uptrend will continue. However, if these indexes stay within the previous range, then a sideways trend will develop in these markets.

We have provided intraday pivot levels on our Pivot Trading page. These support and resistacne levels are:

Expect U.S. stock markets to hold on to their uptrend this week. But the trading pattern may remain choppy like previous few sessions, and there is a possibitly that major stock indexes will trade within yesterday’s high and low marks.

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