Contained
S&Ps are trading at 1161.70, as the trade continues to be contained between 1162.50 and 1159.30. The trade has been very quiet, and trading opportunitie are few.
As we stated in the Morning Meeting, S&Ps have a support zone from 1161.560 to 1161, and below that the target is Friday’s low of 1159.
Nasdaq, meanwhile, is trading at 1484 in a quiet market that continues to chop in about a 20-handle range. We would expect buyers to become more aggressive above 1492, but there is not much interest in the trade right now. Nasdaq has a support zone that stretches form 1483 to 1478.
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