May 22, 2015, (9:24AM EDT)
When an index like Dow Jones, that currently trades at 18,285 and shows only 0.34 point’s gain in a session, you can imagine how narrow the trading range must have been.
That’s how Dow Jones traded yesterday, or have been trading during most of this week. In hourly charts, Dow Jones is showing a 30-points range for many hours. So the immediate range for this index today, will also be within those same 30 points, that is between 18,300- 18,270.
On higher side, Dow Jones has a second level going up to 18,350 and on lower side, it has 18,240.
That is its total range on 5-hours’ chart. If bears get lucky, then the index can drop down to 18,200. If bears get too much lucky, then it can touch 18,180 mark.
That is all the luck traders will get in this index and broader U.S. markets. Take your pick of this narrow range, or you find a stock to trade that has been making bigger moves than this.
Good luck, enjoy the session.