27 December 2019 (8:30 am IST)
26 December 2019, (9:50 pm EST)
As we have been writing for many weeks, US stock markets are in a strong uptrend and “buy on dips” is the only trading strategy for US stocks. True to that, Wall Street rallied again in their overnight session and Nasdaq crossed the milestone numbers of 9,000 for the first time.
Dow Jones is already more than halfway through to 29,000 mark and if nothing goes wrong on the business & political front, then this mega index will touch 30,000 soon.
US stock futures are still trading higher, showing no weakness after their overnight rally. European stock futures are also trading up and major Asian stock markets are trading with green numbers too. SGX Nifty is more than 30 points higher, showing a technical bounce after yesterday’s fall.
For day trading, the best trading strategy will be to leave markets alone for the opening hour. After that, check what kind of trend has developed, and trade with that intraday trend.