Despite worldwide efforts to stop the spread of the disease caused by corona virus, S&P 500 Futures found some support at the today's low of 3233. I find that the SPX looks stuck between the level of 3263 and 3233. Any move out of this range may provide further directional move. There is no doubt that the hourly moves look evident enough to show the growing bearish pressure amid still prevailing fear of another sell off ahead as the S&P 500 futures look not comfortable enough to fill the gap created on the first trading session of this week.
Finally, I conclude that the rising China's death toll from the virus upto 106 has propel investors to remain extremely cautious amid still prevailing fear of sell off to continue; any time with low of some news on the negative side.
Watch my video on SPX below.
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