Downgrades
The stock index futures markets were down this morning on news that included downgrades of stocks including
(
INTC |
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PowerRating) and
(
JNPR |
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PowerRating).
S&Ps were off 6.30 at 1186.20. On the downside, we have 1184, 1182.50, and a major area at 1180.10.
On the upside, we have 1187.50, 1192.50, 1194.50 and then a band of resistance from 1197.50 to 1200.50.
NASDAQ was trading at 1695.50, off 34.50. Limit down today comes in at 1688. For today, we expect support between 1700 and limit down.
We have resistance between 1705 and 1715. If we get above that, we should fill a gap at 1730.
The Dow was able to close above 10,000 — three days in a row. Now, only a close below 9950 would be construed as failure.
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