21 May 2020 (7:52 am IST)
20 May 2020 (10:21 pm EDT)
After yesterday’s positive trend, world stock markets are trading negative in today’s Asia session.
This is despite a higher closing in US stock markets. Global stocks are taking their cue from highly negative US and European stock futures for today’s session.
At the time of writing, Dow Jones futures are more than 150 points down. In Asia, major markets are trading mixed. SGX Nifty is down by nearly 30 points, indicating a negative opening for Indian stock markets.
We had a positive session in global stocks yesterday and today, at the same time, more negative numbers are dominating world stock markets. This shows a range bound trend in world stock markets.
Such trends are not good for keeping overnight positions and day traders should prepare their trading strategies for only intraday trading.