Aiming For The Gap
S&Ps are at 1090, up 6.70, with an ultimate target on the upside being the gap at 1101.40.
This area at 1090 is going to be a pivotal area. If we’re above this at noon Central, we think that gap will probably be filled.
On the downside, we have 1087.50-1088, yesterday’s high at 1085, then downside targets at 1080-1083, and below this, a pivotal area at 1076.50.
Nasdaq is trading at 1337.50, up 24.50. On the way up, we have resistance between 1340 and 1342, and then 1348 to 1351. Above this, 1357 was the low from Sept. 10. We expect resistance from 1357 to 1360.
On the support side, the first leg is going to be 1325 to 1317. Beneath that, the 1320 to 1300 zone turns into support. Key levels in the support zone are 1311 and 1305.
The Dow settled at its highest level post-attack. It is in the process of trying to trade up to 9580.