Dow Futures Tumble 1.14% Sell-Off continues – Outlook Negative
Feb, 06th 12:52
U.S. stock index futures trimmed significant losses ahead of Tuesday’s opening bell, but Dow futures still pointed to a negative open as a historic sell-off continued to weigh on sentiment worldwide.
The roller-coaster ride continued, with Dow futures last down around 270 points, or 1.48%, while S&P 500 and Nasdaq futures pointed towards losses at the open, with both down around 1.06% and 1.30%.
U.S. stocks plunged on Monday, with both the Dow and S&P 500 indices slumping more than 4%, as the Dow notched its biggest Intraday decline in history with a nearly 1,600-point drop and Wall Street erased its gains for the year.
The CBOE Volatility Index has reached its highest level since August 2015, crossing above the 40-level as U.S. stocks continued their wild ride.
On the technical charts, Dow30 is trading below the lower band of the Bollinger bands. The market is trading below all the moving averages (9day, 20 day, 50 day, 100 day and 200 day). The RSI is at 27.51 and the MACD is below the signal line.
Buy digital Put options between 23650 and 23500, valid until 23:00 GMT February 6th 2018
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