15 March 2018 (8:09 AM IST)
14 March 2018 (10:39 PM EDT)
Although world stock markets had opened with negative numbers in Asia, the intraday trend will remain range bound and highly volatile, as indicated by fluctuating U.S. stock futures.
U.S. stock markets closed with highly negative numbers in their overnight session. As expected, Asian stock markets opened with negative numbers and SGX Nifty fell with big margins in early trade as U.S. stock futures remained negative.
But, a few minutes U.S. and European stock futures changed their trend and turned highly positive!
As a result, SGX Nifty quickly trimmed its losses and other Asian indexes also showed improvement in their earlier low numbers.
This indicates that global markets will follow how U.S. stock futures trade in this session and ignore the previous negative closing in U.S. stocks. This also indicates and highly volatile trading pattern in global stocks which is a common feature of range bound trading trend.
Expect global stocks to continue with their broad sideways trading pattern. Major indexes will turn lower from range resistance levels and rally up from range support levels.
Watch those levels in your local index and trade with the short term trend