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.
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.