A Skittish Market
S&Ps trading at 911.50 after a quick rally off the lows that saw the market move up to 913.50. However, S&Ps needs to get above 915-916 to get out of immediate trouble.
It continues to be a choppy, fast market. We would expect things to come down, however, over lunch.
Nasdaq future are trading at 1045 with support at the key area between 1030 and 1028.
As we stated in the Morning Meeting, earnings news and Greenspan’s testimony continue to make this a nervous, skittish market.