World stock markets are trading highly negative in this last session of the week, as US stock futures drop with big margins.
At the time of writing, Dow Jones futures have fallen 132 points.
In Asia, all major stock markets are trading negative. Japan’s Nikkei index is leading with more than 1% loss. Other markets like China, Australia, Hong Kong, and South Korea are also negative..
SGX Nifty has fallen 100 points, indicating a lower opening for Indian stock market.
This is nothing but world stock market trading within their range, with a minor downtrend. As we keep writing, stock markets are rangebound and and keep showing up and down trend. Today, weekly profit booking is pushing the markets down.
How To Day Trade Today:
- World stock markets are trading in a strong downtrend in this session.
- Day traders should follow this trend and open short positions whenever the price recovers, even by small margins.
- Today is the day to use Moving Averages between horizontal support and resistance levels.
- As we previously wrote, you can obtain these levels by drawing horizontal lines on weekly charts.
World stock markets are trading with highly negative numbers in this session. However, the overall trend is rangebound. Markets will trade within the upper and lower boundaries of this same range.