I'm not sure how to post charts but I encourage people to compare the Nasdaq daily chart with the S&P chart. The relative strength of the Nasdaq indicates an immunity to the latest Omnicron strain. (I couldn't help using the word immunity). The Nasdaq down move is much more shallow.
Thanks cutworm, I mentioned this risk on Sunday Night.
COVID news may end up determining what traders focus on some days.........more than any fundamentals.
Many of the markets are getting clobbered here.
Crude and UNL well below the lows Fri.
Grains especially getting killed.
I think the markets with the most spec longs have most downside from having so much selling ammo from them covering the positions.
NG has actually held up during the morning hours(after the overnight drop on warm weather).
Funds are already heavily short NG.
It can go much lower of course but its NOT following the waves of selling like the other markets this morning.
Some colder 12z weather models are helping to keep ng from going lower too.