IT’S OFFICIALLY A BEAR MARKET

SP 500 MINI FUTURES 2 MIN CHART 3/16/2020

Good Morning traders! This morning is a repeat of some of the mornings we had last week with the S&P 500 stuck at a limit down. The price crashed to 2555.50 on the Mini ES contracts and stayed there since 6:15 PM EST last night. There are currently thousands of sellers stacked right at the offer.

Where do we end up? Your guess is at good as mine! So far whole economies have halted due to the Coronavirus (Covid-19). President Donald Tump has issued travel bans and shipment halts to and from certain regions impacted by the virus. We may not see any upside for the markets until the Virus has slowed down or a vaccine of some sort created.

If you happen to be a futures day trader, the margin requirements have increased to 100% due to the volatility. Most of us do not have that much cash so needless to say I will be on the sidelines for a bit, so if you are expecting the trading journal this week it may only be SIM**** keep that in mind!!! I will only post in there with SIM if i see something crazy important that should be in the trading journal!!

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