12 April, 2021 (8:14 am IST)
11 April, 2021 (10:43 pm EDT)
World stock markets are trading with highly negative numbers at the start of this new week. This indicates that we may see a negative weekly trend within the last month’s trading range, or in the case of US stock markets; within the last week’s trading range.
In US stock markets, S&P 500 and Dow Jones had a positive breakout last week, and it was expected that these two world-leading indexes will continue their uptrend this week. The tech index Nasdaq was rangebound so not much was expected from tech stocks.
However, US stock futures are trading negative at the start of the new week’s first session, giving an impression of negative opening in US stock markets 12 hours from now.
At the time of writing, all major Asian stock markets are trading in the red. SGX Nifty has lost almost 250 points at this hour, indicating a deep gap down opening for Indian stock markets. US stock futures are leading these loses with negative numbers.
How To Day Trade Today:
- The global trend is negative at tis hour, with considerable losses in major markets.
- It would be better to go with the dominating negative trend and look for short selling opportunities near resistance levels.
- Last few weeks have been rangebound and volatile for world stock markets, so day traders should trade cautiously and use stop loss in all open trades.
- Keep pushing up these stop loss points once your trade becomes profitable and keep locking profits in.
World stock markets have started their new weekly session with negative numbers. It could be that markets are trading within their rangebound loops and after last week’s better closing, this week traders are profit booking.