Failure At Unchanged
S&P futures failed again at the unchanged level, and are chopping around the 1140 level. There appears to be very little interest in the trade at the moment, with locals in charge of the action.
Earlier we saw a solid bounce with some steady dealer buying in the mid and high 1130s. On the downside, we have support around 1133.50-1131.
In Nasdaq futures, local traders are continuing to press the short side as we break below the recent range of 1575-1585. On the downside we have support between 1570 and 1568, and below that, the low of the day at 1560. On the upside, it has been very quiet over 1580.