Futures Down 520 Points

Calendar January 21, 2008 | Posted by Jorge

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.

Futures Down 520 Points

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.

Category Categories: Market Pulse | Tag Tags: | Comments Comments

  • Thankfully I'm a daytrader. I also don't see it being this bad tomorrow.
  • I'm about 85% cash. I'm not in the mood to blow up my account because everyone's finally realized that there's a serious problem in the US economy.
  • at this point I would be surprised to see something good happen.
  • I have a serious sense of foreboding!
  • thewild1:

    Guess you were somewhat surprised huh?

    Montana:

    You're not the only one. I think I'm official a bear. And to think, I actually disliked Dougie Kass.
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