Fear

On Friday, the S&P 500 Futures closed at 1325.25, this morning they are trading at 1282.50 down 42.75 points or 3.2% lower. The Nasdaq 100 Futures closed at 1849.50 and are currently trading at 1796.00 which is a loss of 53.50 points or 2.9%. This is why it does not make sense to buy in a downtrend which show no signs of bottoming. Rest up for Tuesday, it looks like it will be a busy day.

The 1 minute charts of the ES and NQ show the extent of selling.