15 August 2019 (8:50 am EDT)
US stock futures are trading with healthy gains at the time of writing, but their trend has been highly volatile through the global session, indicating a weak trend for US stock markets too.
As written previously, US stock markets are trading on news and any positive or negative news can trigger extreme reactions in these markets.
Yesterday, US stocks had closed with big losses, near the last week’s lowest points. That was a precarious situation and today, if these markets turn negative again and fall below that points, it could increase the selling pressure in US stocks.
At this hour, US stock futures are pointing to a positive opening in US stock markets. That will create a range-bound trend within the previous sessions’ trading range. The broader intraday range levels for major indexes are given on our Pivot Trading page. These levels are:
- Pivot Levels for Dow Jones
- Pivot Levels for Nasdaq 100
- Pivot Levels for Russell 2000
- Pivot Levels for S& P 500
Expect US stock markets to open with positive numbers. After that, based on the news flow, the intraday trend will either turn sideways and stay positive or decline and turn negative. Day traders should trade cautiously, closely follow the trend and be ready to exit their position at the slightest signal of markets going against their open positions.