Quiet Market
S&Ps are down 50 cents at 1295 after a very quiet overnight session. On the support side, we have support between 1294 and 1292. Below this look for 1288. Light support is between 1289 and 1287. If we fail here, we should test Thursday’s and Friday’s low area between 1284 and 1283.
On the upside, we have resistance between 1298 to 1300. Our targets remain 1300 to 1303.50. Above this, 1310.50.
NASDAQ is trading up 2.50 at 1936.50. On the support side, we have support between 1920 and 1905. The lows of Thursday and Friday were 1904 and 1903, respectively. If we get down in this area, we expect the market to defend it.
On the upside, we have scale-up resistance still between 1930 and 1960. Within here, 1945 to 1950 is critical. And we have Thursday’s high of 1964.
The Dow had a solid close on Friday, over 11,300 — targetting the all-time highs.