7 December 2018 (8:49 am IST)
6 December 2018 (10:19 pm EST)
U.S. stock markets hd a highly volatile overnight trading session where major stock indexes first fell precariously to previous week’s low levels and then had a technical recovery to recover almost all those losses. Nasdaq closed in positive after a highly negative opening trade. Dow Jones fell more than -700 points in first two hours and then recovered to close just -79 points lower.
Today, world stock markets are showing mixed numbers in this last session of the week. Major Asian stock markets are trading mixed with thin positive and negative numbers. These markets are still spooked by the earlier crash in U.S. stock markets.
U.S. stock futures are still trading negative, and are very choppy. European stock futures are following that choppy trading pattern.
SGX Nifty is showing good gains after yesterdays’ big fall, indicating a gap up opening in Indian stock markets too.
World stock markets are expected to trade with choppiness and remain rangebound within last two session’s trading range, which had bee highly negative. This month and week’s trend is still negative and global stocks will trade with an eye on U.S. futures. Any sudden hone inn those numbers can trigger similar volatility in other markets too.
Day traders should trade carefully between support and resistance levels since the intraday trend in expected to remain rangebound. Keep strict stop loss in all your trades and look for quick profit booking.