World Markets Today: Short Term Trend Turns Negative

28 June 2017 (8:43 AM IST)

27 June 2017 (11:13 PM EDT)

U.S. markets fell overnight after a political development; where voting on the much ambitious health-care bill was delayed by Senate Republicans. This indicated a rift within the ruling party and investors, traders hurried for some profit booking.

Tech index Nasdaq lost -100 points and fell back to the low levels it had crashed to , earlier in this month. Dow Jones also lost nearly -100 points. European markets too had a negative session yesterday.

As a result, Asian markets are trading mostly negative. Only ASX 200 (Australia) had a few positive points. SGX Nifty is negative, U.S. and European stock futures are negative, indicating a weakness in these markets.

Expect global markets to trade with choppiness and remain mostly negative. At least at the time of writing, the short term trend looks negative for global markets.

However, traders should always remain alert for any change in the short term trend and so, should keep an eye on support levels of their local index.

As long as, and if, U.S. index futures and European markets trade negative today; the intra day trend in global markets will remain negative and highly volatile.

Good luck, enjoy the session!

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