Early Flurry

All is quiet in the trading pits at mid-day, after a flurry of activity earlier this morning on a better than expected Employment Report. The market sold off this morning on the U.S. Government’s decision to raise the warning level on the terrorist alert, as well as negative outlook comments from Pixar.

The S&P futures trade has been contained under resistance at 836. On the downside we have a low at 832 and, as mentioned in the Morning Meeting, a pivotal area/target at 826.30.

Nasdaq has resistance at 971. As long as the market does not sustain a trade above that level, it has a pivotal level/target on the downside at 953.