Grinding
After putting in a low at 885, S&Ps made the grind back into positive territory. From here, we should find good resistance — as outlined in the Morning Meeting — between 893.50 and 894, and then 895.50 to 896.50. We would need to get back above 900 to get any upside momentum going today.
A very quiet trade at mid-day in the Nasdaq futures market, consolidating around unchanged. We expect some action to pick up, though, after lunch. A volatile trade earlier in the day in the Nasdaq — with a trade over 1000 and a low at 982.