Chop, Chop

A choppy morning in the stock-index futures markets. Currently, S&Ps are at 1145.50.

Again, 1145 is our key level. Above it, we favor the upside; below it, we’re looking for the downside. The intraday high thus far is 1155, with a low at 1141.50, which filled some leftover gaps. One thing to note is that locals have been pressing the short side this morning.

A weakening NASDAQ has also put pressure on the S&Ps. Overall, we expect a choppy trading session.

NASDAQ trading at 1477. Continued weakness in the Semiconductor Index (SOX) has been caused by Intel
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. A slow grind in this market this morning.

Dow cash is higher, but the question remains will we hold above 9900 and trade towards 10,000?

about it at TradingMarkets World