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US markets to open lower after the yesterdays rally

New York Nasdaq

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US markets are expected to open at lower levels today. Jerome Powell's statement yesterday, in which the FED chairman noted that interest rates had probably reached target values, created prerequisites for serious purchases, and this led to the best session for SPX, DJIA and NDX since March.

Today, positivism seems to be lacking, and perhaps we observe the effect of "remorse of the trader" and profit-taking. Currently, levels are not suitable for adding long positions. It is likely at the beginning of the session to see slight adjustment and returning the indices to the current levels at the end of the session.

A little earlier, Donald Trump posted a tweet on a twitter message that would probably create tension and uncertainty in the market. In addition, we can expect caution due to the upcoming G-20 meeting on Sunday.

We remain alerted for possible purchases of stocks which are mostly on the back of the rally yesterday, such as Facebook, Verizon and Twitter.


 Trader Nikolay Georgiev

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