16 September, 2021 (8:32 am IST)
15 September, 2021 (11:02 pm EDT)
Dow Jones Trend: We had discussed yesterday how Dow Jones had fallen below the 9-day, 20-day, and 100-day Moving Averages.
But in its overnight session, Dow Jones bounced back from 100-day moving average and survived this support level.
On the daily line charts, now Dow Jones is making a double bottom. If Dow Jones can move above the previous high point, it will be bouncing back towards the previous high levels.
If it falls below its 100- day Moving Average, it will proceed towards its 200-day Moving Average. Therefore day traders will have to watch how Dow Jones behaves on Thursday.
World stock markets are still trading mostly on their regional and technical factors. US stock markets have turned rangebound this week. Currency markets are showing more movement now that the big central banks are announcing their short-term monetary policies.
Asian stock markets are trading mixed on local factors.
SGX Nifty is showing minor negative numbers after yesterday’s breakout.
US stock futures are also showing single digit negative numbers.
How To Day Trade Today:
- For easy day trading, traders should use resistance and support levels.
- World stock markets are not in the mood for bigger correction even though U S stock markets have been falling recently.
- So, day traders should see opportunities to sell from resistance levels and buy from support levels.
World stock markets are trading mixed and the market volatility is very high. For day trading, high volatility is good if you trade with the trend. Markets are giving both buying and selling opportunities in different regions. Day traders should watch their local trend and trade with the minor support and resistance levels.