Global stock markets have been hit hard by the coronavirus outbreak. Has the outbreak nearly run its course, from a markets-impact perspective? It’s too early to tell. However, see the support and resistance lines on the daily chart for the S&P e-mini futures. A push above the resistance line (the top of Monday’s downside price gap) would suggest markets have factored in the outbreak’s global economic impact. A drop below Monday’s low would suggest the outbreak is accelerating and that the global economic impact remains in question. Stay tuned!–Jim