21 May 2018 (7:49 AM IST)
20 May 2018 (10:19 PM EDT)
World stock markets continue to trade on local and regional economic factors.
That is why U.S. stock futures are rallying with big gains on reports of a pause in China-U.S. trade war, but global stocks are not following that rally and acting more on regional concerns.
Asian stock markets had opened with mostly negative numbers in this session because the end of a trade war between China and U.S. had taken away hopes of brining that chunk of China business to some other Asian markets. Right now, Asian stock markets have turned positive but with very mild numbers.
European stock futures are negative with considerable numbers, again not following the rally in U.S. stock futures.
SGX Nifty is slightly positive but Indian stock markets are also expected to follow their own local trend.
World stock markets are trading in a wide range and keep trending up and down within that range. Day traders should watch their local index and its short term trend and trade with that.
Stock markets volatility will continue to remain high and intraday trading patterns will continue to see trend reversals from support and resistance levels.