A Mixed Bag

The major indices are down today, but of the three, the Nasdaq is holding up the best compared with the Dow and the S&P. Significant weakness in the Dow today, which is dragging this market lower.

At mid-day, S&Ps are at 1155.20. Short-covering in the late morning failed to take this market through the key 1158 area.

Nasdaq futures are at 1512, which while down on the day is still better than expected. Keep an eye on the Nasdaq. If it can hold steady, we probably won’t see much more downside on the S&Ps.

Overall, though we’re in the “quiet time” for this market after the volatility of the morning has passed. Expect a lull through lunchtime. We’ll see what the afternoon brings.