US Markets Today: Slow Paced, Waiting for Fed Meeting Minutes

24 May 2017 (9:13 AM EDT)

U.S. markets are expected to trade within previous session’s range and have a slow paced day as investors will wait for the FOMC meeting minutes from last month.

Dow Jones is narrowly range bound, facing resistance near 21,000 and support at every 50 points below that levels.

Nasdaq futures are more promising than S&P 500 and Dow Jones futures. We may see a more or less flat opening in these major indexes and then a small range bound trading pattern.

President Trump is away on his first foreign trip so controversies have taken backstage but he is still making waves in news; be it for his hilarious sword dance with Saudi Arabians or getting equally hilarious hand swat from wife Melania. Markets are taking a sigh of relief in his absence from domestic politics but next week, with his return, things may again turn volatile in U.S. politics and markets,

Till then, markets will focus on other things, such as the Fed and its policy meeting minutes ( to be released today at 2 PM EDT).

There will also be Crude Oil Inventory reports later today so markets may remain choppy through the day.

Good luck, enjoy the session!

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Indian Markets Today: Volatile on Global Cues, Range Bound

24 May 2017 (8:16 AM IST)

SGX Nifty is showing 20 points’ gain but the overall trend in Indian markets will be dominated by how NSE Nifty opens and trades afterwards.

Yesterday, Indian markets had a volatile trading session where Bank Nifty closed below its 20-Day Moving Average, hinting at a weakness in recent uptrend, while Nifty managed to close above that technical level. For the past many session, Indian markets have been opening high and closing low, thus successfully keeping their current trading range intact.

Today also, major Indian indexes will either trade within their previous range (bounce back from support levels) or continue with their low trend of the closing hours of previous session.

For intra day trading in Nifty, 9,401 will be its pivot mark and major support. If Nifty somehow stays above this level then it may face resistance near 9432- 9479 or 9510 marks.

However, if Nifty breaches this major support and starts trading below 9,400, then it may turn down and seek support near  9354- 9323 or 9276 marks.

Markets may remain highly volatile. Watch those levels and trade with the short term trend.

Good luck, enjoy the session!

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World Markets Today: Fed Minutes Ahead, Range Bound

24 May 2017 (8:16 AM IST)

23 May 2017 (10:46 PM EDT)

As expected, U.S. markets traded in a narrow range and Dow Jones stayed below its nearby  resistance of 20,950.

The biggest news for global markets will be the Federal Reserve’s meeting minutes, to be released on Wednesday afternoon during session in U.S. markets. Markets will look for details of the central bank’s interest rate normalizing plans.

Asian markets are trading mixed, where China and Hong Kong markets are negative after the rating agency Moody’s downgraded China’s credit rating.

SGX Nifty is some 20 points higher, indicating a flat opening in Indian markets alter today.

U.S. and European stock futures are mildly negative, indicating a range bound and choppy session for these bigger markets.

Global markets are expected to follow a similar trend and trade mostly within their broader range, but with a overall weakness on the political instability in the U.S. and uncertain trend in bigger markets.

Watch the range levels of your local index and trade with the trend.

Good luck, enjoy the session!

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US Markets Today: Back to Previous Levels, Range Bound

23 May 2017 (8:53 AM EDT)

European stock markets have ignored the Manchester terror attack and are trading positive on better economic data.

U.S. stock futures also went higher with European markets and now, it seems we may see another positive opening in U.S. markets today. President Trump’s absence from the country has provided much needed relief and breathing space to harried investors and traders but bigger political questions still loom large, making markets jittery and investors uneasy, which is expected to keep U.S. markets range bound after a positive open.

Dow Jones is expected to open near 20,950, which is close to a range resistance of 21,000. From there the index can either stage a reversal from higher levels, or turn narrowly range bound near that range top.

If U.S. markets turn low after the opening bell, the session may remain highly volatile. In case markets trade in a narrow range then the trading pattern may turn slow paced and boring.

Watch which option markets choose for today’s trading, then follow the same trend.

Good luck, enjoy the session!

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Indian Markets Today: Volatile, Range Bound Session

23 May 2017 (8:50 AM IST)

Indian markets have been strictly range bound in their last few sessions, opening high and closing low, remaining within a definite range.

As a result, SGX Nifty is trading high today after a low closing yesterday.

Nifty is expected to trade within its weekly range as global markets are turning negative after a somewhat higher trading yesterday.

For Nifty, intra day pivot is at 9454 and above this level, the index may try to reach resistance levels of 9481- 9525 or 9552. Below the pivot mark, Nifty will find support near  9411- 9384- or 9340.

These levels have created a new range for Nifty so watch these numbers and trade with the short term trend.

Good luck, enjoy the session!

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World Markets Today: Range Bound Pattern Continues

23 May 2017 (8:50 AM IST)

22 May 2017 (11:20 PM EDT)

Global stock markets are expected to continue with their range bound trading pattern.

Although U.S. markets closed overnight  positive for the third consecutive session, but major indexes remained in a narrow range. In early Asia session today, U.S. stock futures are trading negative, indicating that further upward movement is restricted for these big markets.

Asian markets are following a similar cautious trend and are trading mixed, range bound. SGX Nifty is higher but similarly range bound within its weekly levels.

Expect global markets to be narrowly range bound in this session. European markets will dominate global trend later in the session. If these markets and U.S. stock futures turn negative , then global markets may also follow the same trend.

Good luck, enjoy the session!

 

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US Markets Today: Range Bound, Choppy Session Ahead

22 May 2017 (8:56 AM EDT)

U.S. markets had traded in a broader range in the second half of last week. On hourly charts of Dow Jones, this range becomes quite clear:

chart courtesy: Investing.com

Going by this chart, Dow Jones may face strong resistance near 20,850- 20,860 levels. Slightly higher futures are indicating that the index could open near this resistance zone. A somewhat stronger support comes in near 20,700.

If it succeeds in staying above this zone, then we may see a positive session in the index and broader U.S. markets where the gap created by a big gap down opening will be filled.

However, if Dow Jones fails to sustain above this resistance zone and reverses trend after the opening bell, then a range bound session will take place where this index will trade within last session’s high and low levels.

The same set up in 5-minutes charts looks like this:

If the price falls below 50-Day Moving Average (blue line), then it will be first signal of weakness in the index. And, if the prices falls below 100 -Day MA (red line), then selling pressure could dominate the index.

Controversies in U.S. politics is making markets nervous. On top of that, there will be a numbers of speeches by the Fed officials, which will add to the volatility in markets.

Watch what trend markets take up after the opening bell and trade accordingly.

Good luck, enjoy the session!

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Indian markets Today: Volatile, Range Bound Session

22 May 2017 (8:40 AM IST)

Indian markets have till now saved their uptrend and major indexes have been range bound withing that uptrend in spite of weak global sentiments.

Nifty and Bank Nifty have been bouncing back form their support levels after every drop, and yet, have been restricted by resistance levels last week. This range bound pattern is expected to continue in Indian markets today.

For intra day trading in Nifty, the index has pivot mark at 9,441. Above this level, resistance may come near 9492- 9556 or 9607 levels.

Below the pivot mark of 9,441, Nifty has support near 9377-9326 or 9262 level. The index is expected to trade within the boundary of these levels.

Pre-open numbers are indicating a higher opening in Indian markets today. Watch how markets behave after the positive open, then follow the short term trend.

good luck, enjoy the session!

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World Markets Today: Range Bound, Choppy Session

22 May 2017 (8:40 AM IST)

21 May 2017 (11:10 PM EDT)

Global stock markets are expected to remain range bound and highly volatile on political uncertainty in the U.S. and weakness in U.S. markets.

Even after a 2-day relief rally in U.S. markets, further gains are capped in leading U.S. indexes and they are expected to remain within their last week’s range.

Asian markets are reflecting that sentiment and are trading mixed, mostly within a narrow range. SGX Nifty is also range bound, indicating a similar trend in Indian markets today.

U.S. stock futures are trading with very marginal gains, hinting at local political worries. European stock futures are showing more alarming trend, with FTSE 100( U.K.)  futures already negative and DAX futures (Germany) trading with only single digit gains.

The trend in European markets and U.S. stock futures will dominate the first and middle half of this starting session of a new week. And that trend is expected to remain within last week’s range, volatile and weak.

Good luck, enjoy the session!

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US Markets Today: Cautious, Mixed Trading Session

19 May 2017 (9:06 AM EDT)

U.S. stock futures are indicating a cautious and mixed session today.

Nasdaq may continue with its rally from yesterday, while Dow Jones may remain range bound within yesterday’s high and low levels.

Donald Trump will be away from the country on his first foreign tour as the president, and hopefully, will not tweet anything controversial during this trip. Markets will also remain jittery about any new/ damaging revelations for the Trump administration in the ongoing Russian influence saga gripping the American politics.

So, overall, a range bound session is expected. Nothing major to cheer markets up, but lots of worries, concerns and problems to keep markets subdued.

Watch how major indexes trend after the opening bell and trade accordingly.

Good luck, enjoy the session!

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