Back On The Lows
S&Ps traded back on the lows of the day, and below our recent range and opening range. Below 885, S&Ps should target 882.50 to 882.
As we stated in the Morning Meeting, we have critical support at 877.50 to 876. On the upside, the target would be 894 to 895.
Nasdaq futures saw consolidation between 963 and 972. Retests of the high end of this range have failed to generate fresh buying. Earlier, Nasdaq tested the critical support between 964 and 962, but that level held.