S&P500 Futures Update – 02Oct2020

Hello Folks, the #SP500 futures are at 3323 currently. Today’s 60 point knee jerk correction has come due to President Trump testing covid+ and this risk may remain for next 2-3 weeks till he recovers. With best possible medical treatment, he is very likely to recover fully. The markets were just rebuilding their base after the sharp correction of September. This news driven correction will surely create volatility for next few days. The futures may fall sharply towards 3220 (previous support) in case of further negative news flow. But upside towards 3400 is also looking visible, and high probability of retest of 3350-3360 on any positive news. Trading positions should be relatively limited, to handle higher volatility. Thanks.