Online Stock Trading | Stocks Point to a Lower Open

Stocks Point to a Lower Open


Filed Under Market Commentary |

6:35amEST  Asia and Europe are selling off as US stock futures point to a lower open.

Friday’s action in the US stock market has spawned more selling in overseas markets this morning.  Asia closed sharply lower as the Nikkei closed down 4%, Shanghai closing down more than 7%, Hang Seng more than 4%, and the Bombay Stock Exchange closing down more than 1%.   Europe is now feeling the effects of Friday’s bearish price reversal, the DAX is lower by 1.6% and the FTSE down more than 2%.

US Futures are once again looking to begin the day lower.  The Path of Least resistance is clearly down, its best not to fight the freight train of price action.

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