Here's what it says on CME: What happens when the underlying S&P 500 Index hits a circuit breaker level? 20% decline A 20% decline (Level 3 circuit breaker) in the S&P 500 Index will terminate trading for the remainder of the trading day in both the cash equity market AND all U.S.-based equity index futures and options, including E-mini S&P 500 and S&P 500 futures and options. Trading will resume in coordination with the cash equity market. Also note that from 2:25 p.m. to 3:00 p.m. CT, only the 20% market-wide circuit breaker level will be applicable.
because 20 is the next area of support. Making a good place for shorts to cover and prevent the stops under 20 from getting hit. Let's see what happens.
THIRD round of equity margin increases recently: YM, $8250 --> $9075 NQ, $10,780 --> $11,880 RTY, $4730 --> $5170 and CL, $4510 --> $5115