Outlook 03/09: U.S. stock futures were sharply lower Monday morning, as a sea of red was seen around the world, with the Euro Stoxx 50 Index now down nearly 7%, Japan's Nikkei tumbling about 5% and Italy on the edge of a bear market. Amid an increase in the number of global coronavirus cases (110K) and deaths (3,840), Italy locked down nearly a quarter of its population (17M people) as the World Health Organization urged governments to take decisive action.
/ESH20 Value: YVAH 2968 YPOC 2930 YVAL 2920 GAP 2963.75
/ES Plan: On Friday market closed bearish (PBT 2830), and overnight session has been locked due price limit down has been applied, so these're the options for today's regular trading session:
A) No reference for the open, just last price traded with volume 2844-2842. RTH Price limit down 2759.
B) Don't Trade. Just Watch.
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. Don't panic, be patient, don't trade until the market recovers a 'normal' tradable regime. Don't Trade. Just Watch.
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12:30 PM TD Ameritrade IMX
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