Buyers At Mid-Day
Buyers returned to S&P futures at mid-day, with good buying seen from 1105 to 1109.50. Earlier, the market traded over 1114 before a disappointing Consumer Confidence number took this market sharply lower.
As we stated in the Morning
Meeting, we have a neutral zone between 1110.80 and 1108.20. Above this is resistance from 1112.50 to 1112.80, and then 1113.50 to 1114.20.
Nasdaq futures traded above 1400 at mid-day but were unable to sustain that level. Now back to a choppy trade in the 1390s. Earlier, the market was unable to retest the low print at 1382, setting off some short covering.Â
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