3/22/2020 Futures tanking Sunday night (implied open 5-7% lower), but it is still a better time to be buying than to be selling.

Hi everyone. Here’s a quick update from my previous post. 

I was very surprised that the market sold off into the close on Friday because I was expecting the opposite after so much selling pressure during the week. Despite the selling pressure on Friday, I still think we will rebound ~15-20% beginning this coming week. 

Recovery targets slightly lowered from last post (3-4 week timeframe):

SPY 255, DIA 215, QQQ 190 (targets were ~5% higher before)

Dow Jones Futures (monthly chart) below. Notice that we are nearing the 16000-18000 support zone. I suspect we will get a strong bounce from there.

DIA futures Sunday 3_22_2020 Monthly


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