18 May 2018 (9:19 AM EDT)
U.S. stock futures are trading negative as U.S. stocks wait for China- U.S. trade talks and its results.
As we had written in our previous post about global stock markets, right now the trend in technical and even different indexes within the same stock market are trading with different trading patterns.
This is true for U.S. stock markets too, where major stock indexes are showing different trend and day traders have to use separate trading strategies for these indexes.
The small cap indexes, Russell 2000 has continues with its uptrend in U.S. stock markets while the tech index Nasdaq seems to be under more pressure lately. Leading index Dow Jones is trading in its own range which is lower than other indexes.
Today, U.S. stock futures are once again confirming this mixed trend for U.S. stock indexes. Nasdaq futures are down with bigger margins while Dow Jones futures are showing just mild losses. this indicates that U.S. stock markets will see a negative opening in today’s session but the margin of losses could be different for various indexes.
Overall, this week major indues have staged a trend reversal a today’s session will see a trading pattern within weekly high and low levels. Support and resistance levels will continue to play a major role in intraday trend. These levels for major U.S. stock indexes are provided on our Pivot Trading page. Separately, these levels can be checked here:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
Day traders in U.S. stock markets should follow the same strategy for trade start; wait for markets to make a clear pattern, let price reach a support or resistance level, then trade with the short term trend that develops from that level.Volatility in today’s trading session could remain high.