Comfort Zone
S&Ps have found a ‘comfort zone’ around yesterday’s session lows at 1091, with locals trading in the zone between 1090 and 1092. Earlier, the market made a move to new session highs above 1096, but choppy action followed that took this market lower.
On the upside, we have resistance from 1099 to 1101. The market has seen some recovery, thanks to
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Nasdaq has been chopping around a pivotal area between 1479 and 1482 and has spent about an hour in the range from 1486 to 1473. We encountered resistance this morning on attempts to spend any notable time above 1493. The undertone remains bearish.