SPI Futures traded in a very large 486 point range last night,...

SPI Futures traded in a very large 486 point range last night, with a high of 5296, low of 4810, and a close this morning of 4893, down 382 points on high (for us) volume of 47,684 contracts. 7 pct circuit breakers triggered after US markets opened, with a 15 minute breather , however, the result was the same - DOW down 2,352 points, or 9.99 pct, SNP down 9.51 pct and Canada (resouce driven) down more, at 12.30 pct. VIX up a whopping 40.02 pct to 75.47, so getting close to the GFC record, when she was in the 90's. The word Pandemic, and the Trump travel ban set the stage for the night of the living red and the US Fed said they will inject 1.5 trillion dollars into the financial system to address "highly unusual disruptions" in the Treasury market linked to the coronavirus outbreak - There is no liquidity in the markets.

Today in 2013, North Korea shredded the Korean Armistice agreement. Yes traders, and it appears the money shredding machine is winning the battle with the money printing machine at the moment. Take care out there, and don't get your hand caught in that machine.