4 November 2019 (8:37 am IST)
3 November (10:05 pm EST)
After a rally last Friday, US stock futures are again trading with higher numbers. If these positive numbers do not change, we can expect a gap up opening in US stock markets on Monday. With that, Dow Jones will clear out of its range restrictions. This range has been going on since 2018 and technical rules say; bigger the range, bigger the breakout. It looks like the Santa rally is starting early in US stock markets this year.
At the time of writing, US and European stock futures are trading with considerable gains. All major Asian stock markets are also trading positive. SGX Nifty is showing 30 points’ gain, indicating a positive opening in the Indian stock markets.
On technical charts, Friday marked the start of a new monthly candlestick and today’s session will create a new weekly candlestick; both positive. So, at this hour, the monthly, weekly, and daily, all candlesticks are positive, making the trend highly positive.
Day traders should trade with the technical signals and follow the trend. US stock futures could dominate the global trend.