10 July 2019 (9:02 am IST)
9 July 2019 (11:33 pm EDT)
As expected, US stock markets closed with positive numbers after a negative opening, which is a typical trading pattern of the range-bound stock market. Dow Jones remained negative till the closing bell, however, the index trimmed most of its opening losses.
Major Asian stock markets are showing a similar mixed and volatile intraday trend. These markets have been swinging between positive and negative numbers since the opening bell a few hours ago.
SGX Nifty is flat, indicating a similar opening for Indian stock markets today.
US Stock futures and European stock futures have also been trading with high volatility, changing between single-digit positive and negative numbers. This shows that these markets will continue to trade within their last week’s range with a choppy trading pattern.
Day traders should follow the local trend and trade between support and resistance levels with the shorter duration trend. Such volatile trading pattern often leads to overtrading so day traders should be cautious and keep their trades to a minimum.