30 October 2019 (8:52 am EDT)
US stock markets are expected to remain volatile in this session, as many important economic reports will be announced today, and the most important event of the day, the Federal Reserve policy announcement will take place at 2:00 p.m. EDT.
The first half of the session could remain sow-paced and range bound, while the second half could turn highly volatile based on what the central bank announces in its short-term a monetary policy. Markets are expecting some kind of stimulus, or rate cut. The central bank’s forward guidance will also have an impact on the market movement. Such sessions are risky for day trading so day traders should trade cautiously and keep their trades to a minimum.
We have provided intraday pivot levels on our Pivot Trading page. Day traders can use these to anticipate the trading range.
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
The overall trend is strongly positive in these markets, with some minor dips. Global stock markets are also finding support considering the uptrend in US stock market. Today, the closing levels of US stocks will show if markets like what the Fed has to say, or if it will disappoint the markets.