emini ES 12th March 2020

During Wednesday’s session ES tested the major poc at 2719 again, please read previous highlighted comments. Overnight, futures have fallen heavily again.

Sentiment: My version of the Rydex Assets Ratio was lower at 8.76, the lowest reading since 23rd October. The ratio reached 28.6 in December, the highest in my database.

With the World Health Organisation declaring the Covid-19 outbreak a global pandemic and the U.S. announcing a European travel ban, Global stock markets have fallen heavily again this morning. Futures contracts have been suspended after falling 5% and reaching limit down.