15 September, 2021 (8:26 am IST)
14 September, 2021 (10:56 pm EDT)
World stock markets are trading mostly negative in today’s session, thanks to a highly negative closing in Dow Jones.
Dow Jones Trend Analysis: Dow Jones fell almost 300 points in its overnight session. This mega-index has fallen below the 9-days, 20-days, and 100-days Moving Averages, which is quite a negative signal. On candlestick charts, Dow Jones has made a ‘bearish engulfing’ candlestick, which is also a very negative signal. Its Fibonacci levels are showing next support at 34,400 and if this support breaks, then Dow Jones can go down to 34,100 and then 33,700 marks. There is only one support left to save this index from a clear downtrend. That is its 200-day MA and oversold RSI levels. Those are still some distance away so we can assume that Dow Jones is in the negative territory for the time being.
Asian Stock Markets: Almost all major Asian stock markets are trading negative in this session. China, Japan, Hong Kong, and Australian markets are down. Only South Korea markets are showing positive numbers.
SGX Nifty is range bound and slightly positive, indicating the continuation of a sideways trend in Indian stock markets.
The Dollar index is rising and pushing down the emerging markets’ currencies.
All these factors indicate that world stock markets are getting ready for the Federal Reserve’s monetary policy later this month.
How To Day Trade Today:
- US stock markets have been falling after a few range bound sessions.
- Technically, signals are indicating a downtrend in those leading markets.
- Day traders should remember that now ‘selling from high levels’ is getting stronger and ‘buying on dips’ has become weak.
- Global stocks are mostly negative today.
- US stock futures are only slightly positive.
- A drop in these numbers will increase the selling pressure in worldwide stock markets.
- For easy day trading, use technical tools like Fibonacci support and resistance levels.
- World stock markets are expected to trade with high volatility.
World stock markets are trading mostly negative in this session. US stock markets had a negative closing in their overnight session. World stock markets are now correcting, thinking that the Fed will start tapering its fiscal stimulus soon. For easy day trading, follow the intraday trend within horizontal support and resistance levels and the local trend.