Consolidation
S&Ps are consolidating below the 810 area after a failed test of the opening range. Look for a rangebound lunch-time trade from here. Earlier, strength in the financials led to the S&Ps retesting the highs of 815.50, which coincided with teh openign range of 815.50-814.40.
As we said in the Morning Meeting, this is the last day of the quarter, which will lead to a very volatile session.
Nasdaq futures are trading back below 840 and within the range of 834 to 843. We see more consolidation in this area over lunch.
For more details on the Morning Meeting, please see: