27 October 2020 (8:03 am IST)
26 October 2020 (10:32 pm EDT)
US stock markets started this week with highly negative numbers in their overnight session. Dow Jones closed with a loss of more than 600 points. But actually, from day’s high to day’s low mark, this index fell down by a whopping 800 points.
US stock markets are jittery before the final week of the US presidential elections 2020 and world stock markets are also trading nervously before the result of those election.
Today, almost all major Asian stock markets are trading negative. SGX Nifty had crashed yesterday so today, this index is trying to recover with 50 points’ gains, indicating a small positive opening in Indian stock markets.
US stock futures are also struggling to stay positive in the Asia session, but the numbers are small and there is a possibility that these numbers will turn negative later in the session. If that happens, global stocks will follow that negative trend.
How To Day Trade:
- The weekly and monthly trend has lost its earlier gains and turned negative for major indexes.
- This may again change next week but right now, day traders should trade with strategies suitable for a negative trend.
- This will involve selling at high or near a resistance level.
- One can use a trendline also. When price turns down after touching the trendline, start short selling.
- Keeping stop loss in ALL your open positions is a must in these volatile market conditions.
World stock markets are trading negative this week. Big traders, investors are apprehensive about the possible volatility next week when the US presidential elections 2020 results will be declared.