21 February 2018 (8:46 AM IST)
20 February 2018 (10:16 PM EST)
World stock markets have started this new session with quite positive numbers, ignoring the fall of more than -200 points in Dow Jones and a negative close in U.S. stock markets in their overnight session.
European stock markets had closed with positive numbers yesterday and it seems that global stocks are taking support from that positive trend in European stocks and ignoring the intraday trend in U. S. stock markets. It also seems, that a 200 points drop in Dow Jones is now been taken as a normal thing by global stock markets and being ignored as such.
At the time of writing, U.S. stock futures are trading positive, which is also a supportive signal for global stocks. All major Asian stock markets are trading positive at the time fo writing. SGX Nifty is highly positive, indicating a gap up opening in Indian stock markets today. European futures are also showing mild gains.
Despite of this positive opening, worlds stock markets will remain choppy and will continue to watch how U.S. stock futures trade through the session. If these future start turning negative, especially with big margins, then that trend can affect global stocks too.
A post start after a negative sessions indicates range bound trading pattern. Day traders should use pivot trading as their day trading strategy in such market conditions.