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FuturesTrader71 suggesting that if you don't have full margin in your account ($6,600 per ES contract) don't be trading today. So don't go into today with just daytrader margin.
Bigger picture says 2640 should ( on paper anyway) offer some support.
We all know the real concern, these waterfall drops usually come in 3's and the next one could set us up to test the year's low.
If the Nomura quant continues to be correct then the hedge funds could rip the bottom out of the market. So plenty of reasons to be nervous. Waiting for Larry Kudlow to assure us all is well.
6:54 AM 12/6/2018
At 7:15 a.m. ET, Dow e-minis 1YMc1> were down 400 points, or 1.6 percent. S&P 500 e-minis were down 41.5 points, or 1.54 percent and Nasdaq 100 e-minis were down 138.75 points, or 2.04 percent.
The losses in the first few minutes of trading might have been even steeper, but CME Group's Chicago Mercantile Exchange implemented a series of 10-second trading halts that helped limit the initial drop.
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7:13 AM 12/6/2018
LONDON (Reuters) - Oil lost nearly 5 percent on Thursday, after OPEC signaled it may agree to a smaller output cut than expected and as concern over the economic impact of trade tensions hit global stocks.
"Overall, this shows the weak momentum in the market right now and it has clearly not been helped by what has happened over night ... with the sell-off in stocks and weakness in bond yields," Saxo Bank senior manager Ole Hansen said.
"But (OPEC) know how to handle markets. They might be talking it down and then delivering a sucker-punch a bit later, that could also be the outcome."
["HANDLE" = READ MANIPULATE]
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9:01 AM 12/6/2018
Dir -1
Mid Chg -6
Range est 63.75, 50.50
06-Dec
High=2669.25
Low=2648.50
H/L est 2669.25 2603.00 66.25
Educational only and not trading advice (EO&NTA) Good trading to all
9:20 AM 12/6/2018
Trade1
ES 12-18 Sim101
Short 1@2666.5
cls=2657.5
12/6/2018 8:45:36 AM
12/6/2018 8:50:21 AM
MFE= 500
MAE=50
Profit $450
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Trying to sell 2661.25
Educational only and not trading advice (EO&NTA) Good trading to all