Down we go again.
Yesterday's press conference with Trump and the CDC did NOT calm the markets down as we gained 600 more global cases yesterday and 400 more cases in China, where things are "under control". “We’re testing everybody that we need to test,” Trump said yesterday, “and we’re finding very little problem, very little problem.” Nonetheless, right after he put Pence in line to take the blame when this thing goes bad, the CDC announced the first case in Califonia not linked to foreign travel – the guy just caught the virus in the wild in California!
As you can see from the chart above, the Nasdaq (/NQ) Futures shorts we added during yesterday's Live Member Chat are doing well as that index drops another 150 points, giving us gains of over $2,500 per contract (you're welcome) and we are having a FANTASTIC week shorting the indexes but tight stops here (8,750) to lock in those gains.
We're benchmarking a bottom this morning at 26,500 on the Dow (/YM), 3,065 on the S&P (/ES), 8,700 on the Nasdaq (/NQ) and 1,525 on the Russell (/RTY)