10 August 2018 (8:57 AM, IST)
9 August 2018 (11:27 PM, EDT)
After a mixed closing in U.S. stock markets in their overnight session, it seems that the negative closing in Dow Jones is weighing heavily on world stock markets that have started this last session of the week with all round negative numbers.
Dow Jones closed with a loss of almost -100 points, and today being the last session of this week, it seems traders are going for profit booking.
At the time of writing, all major Asian stock markets are trading in the red. European and U.S, stock futures are trading negative and SGX Nifty is flat, indicating a subdued opening in Indian stock markets today.
Day traders should wait and see how their local index trades. Any index that falls below previous low will have possibility of more losses while any index that trades near but below their previous high will remain rangebound.
Global stocks are still trading in a technical trend and that is why there are mixed trends in all stock markets. So, just watch what kin of trend unfolds in your local index, then follow the trend.