Hello Folks, the S&P500 futures are at 2733.00
Today’s Range: 2717.50 – 2832.50
The S&P500 futures have corrected by over 100 points since yesterday, and not in a straight line, so many stop losses of all kinds of trades have been taken out. Below 2700, the risks will rise rapidly.
Market sentiment has got badly broken, and Volatility has spiked up in last 24 hours because of the crash in Crude Oil futures – they went into negative rates, which is like a penalty for Crude Oil production, and its the first time we have seen anything like this in any major asset.
This Crude Oil futures crash has caused huge losses to all market participants, because Crude Oil/Energy is present as direct or indirect investments in all major funds and investment portfolios.
This article summarizes it well.
Btw, today April 21 is 2 months since Feb 21, when the major correction started in the markets. Most corrections don’t last longer than 2 months, but this one is very different in its nature because of the pandemic. We will remain cautious, because the market conditions are very rough.