17 February 2020 (8:33 am IST)
16 February 2020 (10:02 pm EST)
Here is wishing all traders (and investors) TGIM (Thank God It’s Monday!)
As if two days’ weekend was not enough, US stock markets will continue their holidays on Monday also, for President’s Day.
That means world stock markets will rely more on local cues for intraday trend. US stock futures are open for trade, and it is possible that their trend will impact the trend in global stocks too.
Major Asia stock markets are trading with mixed numbers. China and Hong Kong markets are trading up with big margins because China’s central bank has cut its lending rates to help the economy. Nikkei (Japan) is down on lower than expected GDP numbers. SGX Nifty is flat after the carnage on Friday last with Indian stock markets on bad news for telecom and banking sectors.
US and European stock futures are positive but with moderate numbers, which can turn down at any stage. If this happens later in the session, world stock markets will also feel its impact.
For day trading, the best trading strategy will be to cautiously follow the local trend. World stock markets are exhibiting a mixed trading pattern on local cues in this session. So, one market’s trend could be different from another. Focus on your local market and trade with the minor trend.