US Markets Today: Volatile on Fed Chair Yellen’s Testimony

28 September 2016 (9:09 AM EDT)

Deutsche Bank shares are having a relief rally, giving European markets a breathing space too.

U.S. stock futures also turned slightly positive after recovering from earlier low levels. Still, highly volatile session waits ahead for U.S. markets as the Fed Chair Janet Yellen is scheduled to appear for Congressional hearing at 10 AM EDT today.

Any clear trend will emerge only after that event and what the Fed Chair has to say about the central bank’s rate hike plans.

Dow Jones has resistance near 18.300- 18,350 which will hold in early session. In case there are hints about rate hike coming soon, then the index may turn lower from these levels. However, if the Fed Chair continues with her confusing statements (improving economic conditions but still waiting for right time to raise rates ect) then U.S. markets could see more gains.

Wait till that time and then trade with the trend.

Good luck, enjoy the session!


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Indian Markets Today: Weak Trend on Global Cues

 28 Sep, 2016 (8:21AM IST)

Indian markets have been falling for the last three sessions and this negative trend is expected to continue on negative global sentiments today.

SGX Nifty is nearly 3 points lower, indicating that Nifty will open near its major support of 8,704. Form here till 8,690, Nifty has a support zone and may see a bounce back after a low opening. In that case, 8721 will mark as its immediate resistance levels.

If Nifty succeeds in crossing over 8,721 and stays above this level-which seems difficult at this time, then the index may try to recapture 8,753.

If Nifty falls below 8,690 level, its previous low, then the index may go down to supports of 8,675- 8,643 or even 8,597 if global markets continue with their lower trend.

Indian markets are completely dependent on global cues for their trend as their are no local cues to support these markets. So watch those cues and Nifty levels and trade with the trend. Selling at high looks better trading strategy at this time.

Good luck, enjoy the session!

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World Markets Today: Deutsche Bank Worries Dominate Trend

 28 Sep, 2016 (8:07AM IST)

27 September 2016 (10:38 PM EDT)

U.S. markets closed in positive overnight, despite that global markets have opened in Asia with highly negative numbers.

The reason is drop in European markets on Deutsche Bank worries which has to pay $14 billion in legal settlement to the U.S., but the German Government is refusing to bail out this bank.

Deutsche bank shares have been making record lows for the last two sessions, dragging down European markets with worries about this big bank. Today, once again, European index futures are considerably negative which had put pressure on U.S. stock futures and Asian markets too.

SGX Nifty is also down by 10 points, indicating a weak opening in Indian markets later today.

Major U.S. indexes had also kept below their range resistance levels overnight, indicating it was just a breather and not a trend reversal from lower levels.

Expect global markets to trade with volatility and follow the trend in European markets. At the time of writing, global trend seems to be low. If European markets recover then it may provide support to global markets. Otherwise, the global correction will continue.

Good luck, enjoy the session!

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US Markets Today: Weak Trend, Volatile at Support

27 September 2016 (8:51 AM EDT)

U.S. stock futures have given up all their earlier gains with low trading European markets and it looks like U.S. markets are going to struggle today near their major range support levels.

In the previous session, U.S. markets had closed right at the lowest level of the session, which was, technically a very negative signal.

Dow Jones had closed below 18,100 (just as we had warned it could) and today, once again, this mega index is expected to trade between 18,000- 18,150 in early trading hours. 18,200 will act as a strong resistance now. Personally, I’ll not be surprised if Dow Jones falls to 17,950 levels in intra- day session today or later in this week

But that will happen if U.S. markets fail to bounce back from their range support levels today. We may see a narrowly range bound session if U.S. markets trade positive. Selling pressure may come in at higher levels.

Expect a highly volatile and range bound session in U.S. markets today. The upside is capped for major indexes but support levels are looking weak and may open the gates of losses if these levels are breached today.

Good luck, enjoy the session!

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Indian Markets Today: Range Bound, Volatile on Global Cues

27 Sep, 2016 (9:00AM IST)

Indian markets are expected to find slight support with global markets in early session today.

However, this support may not be much as Nifty has fallen much below its technical support of 20-Day Moving Average.

SGX Nifty (Nifty futures in Singapore market) was 68 pints lower in opening session and has now squared off those losses to trade slightly positive. This index trades much later than Indian markets, through the early session in U.S. markets and had fallen with big numbers when major U.S. indexes tumbled in their previous session.

That means, if U.S. stock futures were not rallying right now on their presidential debate, SGX Nifty would have been down by 60 points and Indian markets would have seen a gap down opening.

U.S. presidential debate is very local factor and may not support Indian markets much.

Nifty has its first resistance of the day at 8,749 and first support at 8,688. That will be its immediate range.

If Nifty crosses above 8,749 then it may go back to another, and stronger resistance of 8,783.

8,731 and 8,741 may prove smaller resistance levels for Nifty.

Keep an eye of resistance levels in Nifty as the inedx may remain range bound at upper levels, trading in a narrow range after a gap up opening, or follow a higher open and lower closing pattern.

Overall, last session’s high and low levels will keep Nifty range bound.

Good luck, enjoy the session!



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World Markets Today: Taking A Breather in Correction

27 Sep, 2016 (8:34AM EDT)

26 September 2016 (11:02 PM EDT)

U.S. stock futures have jumped up after the first presidential debate of 2016 elections. Hillary Clinton, the markets’ favorite seemed to gain over her rival Donald Trump and Dow Jones futures jumped by nearly 100 points in happiness.

Well, that is what the mainstream media is telling you. What charts are telling me, is, we are set for a technical bounce in global markets after 2-3 sessions of steep decline.

U.S. markets closed with considerable losses for the second consecutive day. Dow Jones closed below 18,100 and near its major support of 18,000. European and Asian markets too had lost big numbers in previous two sessions so technically, a breather in current correction was expected today.

That would mean a bounce back from current support levels. Global markets are set to see a positive early session but the range will be restricted and indexes may face resistance at higher levels.

That also means, traders can get a chance of buying at support levels. Resistance levels will be exit points of such trades. the immediate range in any index may be within its previous low and high numbers (in case the previous session was negative).

Watch those levels of your local index and trade within that range.

Good luck, enjoy the session!

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US Markets Today: Low Open, Range Bound Trading

26 September 2016 (8:53 AM EDT)

For those traders, who believe in trading with the market, this session has been excellent with a strong negative trend.

U.S. stock futures are highly negative, indicating a similar negative opening in U.S. markets soon.

That will bring major indexes back into the range of previous week, which was breached with a gap up opening last Thursday.

Dow Jones is expected to open near 18,180 mark, with immediate resistance levels near 18,218- 18,261 marks.

Support for this mega index will come near 18,100 and 18,000 marks.

As we know, 18,000 has been strongest support for this mega index till now. It will be interesting to see if Dow Jones can survive this support today- or in this week. Or, whether the correction will be stronger this time and push the index below this range support.

European markets are also highly negative. If U.S. markets continue to decline in today’s session, even after a gap down opening ( sometimes markets become range bound after a low opening), then European markets will increase their losses and we may see another lower opening in Asian markets on Tuesday as well.

Wait and see which of the two patterns dominate U.S. markets today- a continuous decline or a narrow range bound pattern after a low opening.

Take your cue from the trading pattern of Dow Jones and trade with the trend.

Good luck, enjoy the session!

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Indian Markets Today: Lower Opening on Global Cues

 26 Sep, 2016 (8:38AM IST)

SGX Nifty is nearly 30 points down at the time of writing, as bigger markets tumble around the world.

That mean, Nifty may open near its first support level of 8,806.

Below this level, near 8,780, Nifty has a major technical support (20-Day Moving Average) and after that, 8741 will provide support to Nifty.

Usually, gap down openings see a quick bounce back. In that case, Nifty may face resistance near 8,820- 8,831 or 8,845.

If global cues continue to remain negative then Indian markets will also trade negative through the day and selling at high or at every bounce will be a better day trading strategy.

If, however, global markets recover later in the session then Indian markets may also turn around, which right now looks difficult.

Nifty is still in a broad range which has the last support at 8,665.. Till Nifty trades above that support, the current range (8,900- 8,600) will remain in place.

Watch the intra day Nifty levels and trade with the trend.

Good luck, enjoy the session!

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World Markets Today: Down on Data, Central Bank Speeches

26 Sep, 2016 8:20AM (IST)

25 September 2016 (10:49 PM EDT)

The new week has started in global markets with immediate action! All indexes are tumbling down- from U.S., European stock futures to Asian markets and SGX Nifty- every index is showing deep cuts.

U.S. markets had started this negative trend last Friday when major U.S. indexes closed with highly negative numbers.

Today’s session is spooking stock markets because it will witness a continuous flow of important economic reports from euro zone and later from the U.S. economy. Apart from that, big central bank officials will also be making public speeches through the session. This list involves the Bank of Japan governor, Kuroda and the ECB president, Mario Draghi. Some FOMC members will also speak once U.S. markets open for their trading session.

Anyway, bigger markets had gone back to their all-time high levels after the Fed’s meeting last week, so it is natural that they will come down again, keeping their larger range bound pattern in place.

We are back to watching support levels as traders should do in negative trend. If markets are weak, then every support (or bounce back) will be an opportunity to sell.

So watch your local index and its trend line. If the trend line is directing downward, then wait for a bounce back to touch this trend line. That will be the right trade entry for short sellers. If your index opens low, then becomes range bound, then watch resistance levels (high level) which will be the right place to start taking short positions.

Good luck, enjoy the session!

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US Markets Today: Profit Booking, Fed Speakers Put Pressure

23 September 2016 (8:53 AM EDT)

U.S. stock futures are indicating to a lower opening ahead of Manufacturing data and speeches by three FOMC members.

We had already written that global markets were set for a profit -booking session before the weekend and exactly that is happening in stock markets today. U.S. markets are also expected to follow the same trend within their last session’s range.

For Dow Jones, that would mean an immediate range of nearly 1oo points between 18,450 (high) and 18,342 (low).

To help our readers understand today’s trading strategy, we have complied a trading system (or map) of Dow Jones complete with resistance and support levels and at what points selling and buying opportunities will exist.

Dow Jones : Today’s Trading Strategy

As you can see, the pivot or middle levels is at 18,396. above this, there are three main resistance levels that will provide selling opportunity while three support levels will provide the trade exit (if you have short position) or a bounce back providing trade entry points for long trades.

If the index trades lower then you can sell at every resistance. If Dow Jones shows strong support at lower levels (which looks less likely today), then buying at those support levels will be beneficial.

Keep an eye on these numbers and trade with the trend.

Good luck, enjoy the session!

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