A Good Pause

S&P futures were going mostly sideways this morning, after a trade up to 1299 — just short of the 1300 target.

Overall this is a good pause for a market that saw such a strong run higher yesterday. The low of the day is 1284, above a support zone that goes down to 1283.

Volatility is slowing in the late morning. S&Ps are chopping around between 1291 and 1287. Expect a quiet lunchtime trade.

NASDAQ trading at 1921, chopping around in a range between 1930 and 1910. Below, 1910 we would expect selling to accelerate, possibly filling a gap at 1896.

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