10 September 2019 (10:07 am IST)
10 September 2019 (12:36 pm EDT)
As expected, world stock markets have become choppy and showing a mixed trend as big traders step away from markets, waiting for the European Central Bank’s policy meeting on Thursday.
US stock markets also had a mixed closing in their overnight session. At the time of writing, major Asian stock markets are trading on their local cues, some positive and others negative. US and European stock futures are thinly negative. SGX Nifty is flat as Indian stock markets will remain closed for a local holiday.
Such market conditions are not good for day trading and day traders should wait for markets to re-energize and start trending in any one direction.
Expect world stock markets to trade without any clear direction and stay in a narrow range. Currently, there is no strong global cue to motivate global stocks so the trading pattern will remain mixed and major markets will follow their technical signals for intraday trading.