Following yesterday’s sharp drop, each the Dow and S&P 500 continued to tumble immediately whereas Nasdaq futures rose almost a full level.
Yesterday the Dow Jones Industrial Index noticed its worst day since September third and the S&P had its worst day in a month. Issues over a surge in coronavirus infections in addition to the unlikelihood of a stimulus settlement previous to subsequent week’s US Presidential election despatched equities decrease in all 3 indexes.
Whereas all 3 indexes dropped to early October value ranges, notably the Nasdaq dropped the least. At present, whereas each Dow (YM) and S&P 500 (ES) futures closed within the crimson, Nasdaq futures (NQ) had been inexperienced on the closing bell. Information of tech big AMD’s settlement to amass its competitor, chipmaker Xilinx (XLNX), helped buoy the index.
In the meantime, the CBOE volatility index (VIX), often known as Wall Road’s “concern index,” is quietly creeping as much as ranges not seen in over a month.
The chart above, created 100% FREE utilizing NinjaTrader, reveals the final 6 months of value motion in Micro E-mini Nasdaq futures (MNQ). 50 and 200-day SMA traces have been added for additional evaluation, together with the golden cross that occurred on June 2nd, 2020.
Bulletins corresponding to stimulus agreements and US presidential elections may cause sudden fluctuations in monetary markets and merchants ought to take acceptable measures to guard danger capital.
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