S&P500 Set to Tumble Further

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As markets gearing up for another bearish week we like to increase our Short position in the S&P500. We would like to sell again at $2445 with open SL and open TP.

Today, the Fed released a massive roll-out of new easing measures meant to boost the economy after having unexpectedly slashed rates by 1% in a last-minute meeting on Sunday. This caused the dollar to dip significantly. A weaker dollar may not be able to support the stock markets however with more heavy losses ahead. In the EU, bourses tumbled 8% and airline stocks tank as regional coronavirus shutdowns widened. This downtrend is expected to spillover during the US session, bringing markets lower once again.

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