11 September 2019 (8:50 am IST)
10 September 2019 (11:19 pm EDT)
World stock markets have started with mostly positive numbers in Asia, but US and European stock market futures are struggling to decide on a direction.
As we all know, global stocks are watching the clock tick, waiting for the European Central Bank to announce whatever stimulus it is planing for the eurozone economy. That moment is still many hours away so we can assume that world stock markets will continue their aimless wandering within their weekly range, but holding on to the support levels.
At this hour, all major Asia stock markets are trading with healthy gains; only Shanghai is down with minor losses. US and European stock futures are very, very slightly positive and are slipping towards the red line, hinting at a volatile trend in these futures. SGX Nifty is flat after yesterday’s drop and gains.
Expect world stock markets to remain range-bound and trade with a mixed trend. Asia looks strong at this hour but stock futures of bigger markets are weak which can keep the global trend volatile.
Day traders should follow the technical signals in their local markets and trade with the short term trend in the absence of any clear global trend.