Futures dropped during Sunday’s session open and triggered the limit down rule. This came after Congress could not come to a deal on the $2 trillion stimulus package. However, we are seeing the markets surge this morning as the Fed announces limitless asset purchases. The S&P 500 is down 8 points, Nasdaq is up 17 points, Dow futures are down 69 points, and the Russell about flat, down just 1 point.
On the calendar: Nothing at the moment.
Stock to watch: APRN, NKE, NVDA
A look at the chart: NQ is trading higher off its lows of 6682.75, currently testing the 20 day sma on the 4 hr chart. A look to break this we could see upward targets of 7253, 7313.50, and 7487. Downward targets, 7139, 7049, and 6923.