Eye On The Bias
S&Ps have a small downside bias, but this will be short-lived most likely as long as Nasdaq and the Semiconductors (SOX) are going up. As we outlined in the Morning Meeting, the key levels are 922 on the downside, and 926.50 on the upside.
Nasdaq will be stronger as long as the market is above 1068. If it can show staying power over 1072, the targets are 1075.50 to 1077.50. Below 1067.50, the targets are 1065.50 and 1062.50.