Hi, the S&P500 futures are at 2459.00, down 110 points or -4.30%
Today’s Range: 2453.50 – 2563.00
The futures were at 2611 when I mailed you yesterday,
and mentioned this in the market levels.
“- Safety will start above 2650 (we are almost there!)”
But the futures could not even go near 2650!
They reached 2635 and started facing selling pressure, and they are now below 2460, down 170 points since yesterday’s high. Its not hard for the futures to move up/down 30 points in the current market conditions with high volatility, but they could not even approach 2650 yesterday. It means the market is not yet ready for become safe and stable, which means more correction, till we get better conditions. In regular market conditions, the S&P500 futures can stay flat for a couple of days, but that’s not possible now. If the market can’t go up, it has go do down without any waiting. Continue reading