Futures Down 520 Points

Submitted By Jorge Hurtado

Dow futures are down 520 points while the SP futures and Nasdaq futures are down 60 and 75 points, respectively.  Overseas markets were pounded today, with the Dax taking a 7% hit.

520 Point Drop in DJIA Futures

Here’s a 3 day, 15 minute chart next to a 3 month daily chart of the Dow and S&P futures.  Notice the gap down this morning.  I’ve been speaking to an experienced trader in the thinkorswim chatroom and this gap down is a result of either the foreign traders hedging against the US market open tomorrow or something not so good.  They said it wasn’t necessarily a scary sight but it’s definitely something to watch tomorrow morning before the markets open.  It’s probably a good thing I’m almost fully cash right now.



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