Outlook 03/31: Stock futures dropped in choppy trading early Tuesday morning, as the market tries to make back some of the deep losses triggered by the coronavirus pandemic. Markets embraced a more realistic government approach to contain the pandemic. President Donald Trump extended the timeline for social distancing guidelines to April 30, which many believe will reduce economic damage in the long run. SP500 was tracking for the worst month since the 2008 financial crisis and the worst quarter since 1987.
/ESM20 Value: YVAH 2621 YPOC 2593 YVAL 2554 GAP 2612.25
/ES Plan: Last session market closed bullish, but overnight are on pullback mode, so these're the options for today:
A) If market remains above LIS HVE 2587 with bullish internals, buy towards HVE 2620 ONH 2635.75 HVE 2652 and GAP 2685.
B) If market moves below LIS HVE 2587 with bearish internals, sell towards ONL 2572.50 and HVEs 2562-2540-2508-2480.
Note: On these high volatility days (VIX>50), 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. Risk is just too great (>20p) so I recommend to stay aside.
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