Hello Folks, the S&P500 futures are at 3336.00
Today’s Range: 3303.50 – 3341.50

The futures had a volatile weekend, and they went down till 3303 early today morning, in pre-market hours. Now at 3336, the futures are trying to move up again. But there is a strong resistance at 3350-3353 level.

There is significant uncertainty in the market coming from Coronavirus. Its still not controlled or cured, and some of the worst case scenarios of the virus spread are running into millions of patients worldwide. So the risk on global economy from Coronavirus is very real and significant.

The non-stop fall in the price of Crude Oil (below major support level of $50 per barrel) is an indication of the significant fundamental risk.

We have made 25 points in the first General Trade. So we will be cautious, and will take a new trade if a solid setup comes. We may still do Optional Trades on reasonably good setups using fewer contracts. As of now, the market looks uncertain, and 10-20 points can be gone within 10 minutes. We have no new trade as of now. Thanks.