The potential for a reflexive rebound seems to be evaporating as we didn't get much of an Asian session. Quite to the contrary, the bears are reasserting themselves as we're approaching the start of the European session. Coupled with the many bearish omens (not just the corona rearing its head) that I'll discuss in today's flagship Stock Trading Alert, opening a short position is justified.

Please see the Trading position section for details.

Trading position (short-term; futures; our opinion): short positions (100% position size) (at market, which is 3000 currently) with stop-loss at 3160 and initial downside target at 2940 are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading StrategistSunshine Profits: Analysis. Care. Profits.