Glitch!
Wouldn’t you like to be in the IT Department of the New York Stock Exchange right now? Not!
A computer glitch brought the Big Board down for about 45 minutes this morning and halted S&P futures trading as a result.
In the late morning, trading has resumed, and S&P futures are at 1274.70, bouncing off a new low at 1270.8. The market had bounced to 1276.50 in a what looks like a very “whippy” trade between the low and this level.
Based on early morning trade, there appears to be resistance at 1280.5 to 1281.5, and then support around 1270 and then 1272-1273.
NASDAQ kept trading during the NYSE glitch, now at 1934. NASDAQ September futures (NDU) had made a new low for the day at 1925 during the NYSE suspension of trading, but volume on the NASDAQ was very light while the market awaited the reopening of Board Board trading.
In the late morning, we see a very whippy trade — quick moves with no commitment — between 1925 and 1935 with support at 1930.