The spreading coronavirus epidemic seems to be heading towards a Pandemic. This may result in extending exhaustion in the global equity market.

The lowering Gold Futures along with lower guidance from top corporations makes the situation even more precarious than Sino-U.S. tariff trade tussle since it is beyond control.

I find that the S&P 500 Futures look too decisive at closing levels of February 28th, 2020; from where they may escalate deep into the negative territory. On analysis of the movements of the S&P 500, in different time frames,

The month of March looks too important for the S&P 500 futures; while a decisive move from the Federal Reserve has to prove its effectiveness in controlling the economic damage caused by the coronavirus.

Finally, if the S&P 500 futures remain unsuccessful in defending the level of 2736 in the first half of March 2020, they may test the lows of December 26th, 2018 once again in May 2020.

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