Below is a chart of the S&P 500 that includes where it’s set to open this morning with futures down 3%+.  As you can see, the index is set to open at the same level where it has made two near-term lows, and for now it will still be above its 200-day moving average.

SPX

The price of oil is down sharply but has thus far managed to hold above support at its 50-day moving average.

oil

 

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