18 September 2020 (7:50 am IST)
17 September 2020 (10:20 pm EDT)
This is the last session of this week and world stock markets have started it with a mixed and volatile day trend.
US stock markets closed negative in their overnight session, but keeping within their current trading range. Nasdaq opened highly negative and closed in a better position, thus creating a “positive hammer candlestick” at its range bottom. As the index is tightly range bound, we may see it trading positive next week, to return to its range top.
At this hour, US stock futures are trading negative, but not with much higher numbers. We are expecting these futures to improve later in the session as the current trend in US stock markets is range bound and major indexes are not expected to fall further.
In Asia, major stock markets are trading mixed, but mostly positive. SGX Nifty is also trading positive today, with minor gains.
How To Day Trade:
- Looking at the various parts of world stock markets, it is clear that there is no single trend in global stocks.
- For day trading, the best strategy would be to follow the local trend, and keeping stop loss in all positions to safeguard against the global volatility.
- All three trend; up, down and range bound are visible in different markets today. Day traders should pick the strategy that will suit the trend in their local stock markets.
World stock markets are opened to a volatile and mixed trend, but the bias is mostly positive. If US stock futures turn positive later in the session, we may see a similar effect on global stocks. However, a bigger slide in those futures could put selling pressure on world stock markets.