Grinding Higher
S&P futures are trading at 1267.80, after making a high at 1270.50 just below yesterday’s high at 1272.
The Dow has been the strength leader in this market today. For S&Ps to continue this grind-higher trade, the market must stay over 1266. On the immediate upside, the target remains yesterday’s high at 1272.
NASDAQ trading at 1884 on the strength in the Semiconductor sector. The Semiconductor Index
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PowerRating) is up 2% on the day.
However, we have not been able to break through the 1894-1897 resistance area. If we can’t get above this level, buyers might possibly retreat this afternoon.