27 February 2017 (9:03 AM EST)
U.S. markets are expected to be as mixed up today as was the Best Picture Oscar award announcement.
U.S. stock futures are pointing to a slightly negative opening today, but the overall trend in U.S. markets had been positive and major indexes may keep returning to the green territory even if markets fall in early session; as we saw on Friday last.
U.S. markets are waiting for President Trump’s speech to a joint session of Congress on Tuesday to see if he makes any reference to his promised tax cut plans. As U.S. markets cling on hopes of a Trump stimulus, the trend becomes range bound and separate from other global markets that are witnessing some correction.
Dow Jones is just 200 points away from 21,000 and if Trump says even a few words about his expected stimulus, this index may touch that milestone within this week.
For today, the trading range in U.S. markets is expected to remain within last session’s high and low levels. If major indexes trade above previous high, then obviously the uptrend will continue and these indexes will keep on making new highs.
Watch the early trading pattern and let it become clear whether markets are going up or turning range bound. After that, follow that pattern and trade accordingly.
Good luck, enjoy the session!