Critical Support
S&Ps are trading up 12.30 points at 1256. We could see a retracement down to 1250 to 1254, and if we do, it’s important for the upside that we defend that area.
On the upside, we’re looking at 1259, 1261.50, 1266 and 1272.50. On the way down, we have 1257.50, 1256.50, 1254 and 1252.
NASDAQ is up 61.00 points at 1973. On the support side, we have 1955 to 1945. Yesterday’s high was 1944. Below that we have major support at 1925 to 1905.
On the upside, we have resistance between 1965 and 1985; we are trading in that area currently. Above this they should head for 2020.
U.S. markets are getting a boost from strength overseas, including the Nikkei.