17 October 2019 (8:55 am IST)
16 October 2019 (11:25 pm EDT)
After US stock markets traded aimlessly in their overnight session, world stock markets have also adopted the same trading style. At the time of writing, no trend is visible in world stock markets. Major Asian stock markets are trading mixed, with thin margins.
European and US Stock futures are negative but with fewer numbers. SGX Nifty is positive but trading with small gains, waiting for Indian stock markets to open and create an intraday trend.
As we wrote yesterday, US stock markets have reached their range top-levels and have become slow-paced. From here, these markets will need a piece of big positive news to go higher or turn range-bound at current levels till the US-China trade talks provide some conclusive results.
In the absence of any global trend, expect world stock markets to trade mostly on technical signals and local cues. For day trading, watch both support and resistance levels, because the intraday trend is expected to remain sideways.