Outlook 03/16: U.S. stock futures were "limit down" 5% on Monday morning despite the Federal Reserve announcing a massive monetary stimulus campaign and cutting interest rates to zero Sunday. The Fed's moves, ahead this week's regularly scheduled policy meeting, were aimed at support the economy as the coronavirus crisis deepens in the U.S. and around the world. When the regular session begins at 9:30 a.m. ET on Wall Street, the 7% down level on the SP500 would trigger the first of three "circuit breakers," pausing trading for 15 minutes.
/ESM20 Value: YVAH 2596 YPOC 2552 YVAL 2484 GAP 2685.25
/ES Plan: Last Friday market closed bullish, but overnight sank until limit down was hit, so these're the options for today's session:
A) If market remains below LIS 2562 with bearish internals, sell towards HVE 2540 and RTH limit 2501.50.
B) If market remains above LIS HVE 2562 with bullish internals, buy towards HVE 2620-2652 and GAP 2685.25.
Note: On high volatility days, your first trading rule is 'manage your risk'. Regardless of how much more money you could have made, you do realize that you just can not manage risk on this enviroment. The risk is just too great, I strongly recommend to stay aside, just watch.
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