Here Are Today’s Important Levels
For the upside to have a chance, S&Ps would have to get above 880.50 and then not go below 878. As long as this market is below 878, the downside risk increases.
The targets on the downside would be a cluster around yesterday’s low (as highlighted in the Morning Meeting) at 876 down to 873.50. On the upside, the targets would be 882 and then 883-884.
For Nasdaq, the upside improves above 1023, with targets above that at 1027, 1029-1030 and possibly the highs at 1032-1033. On the downside, below 1015, the targets are 1011-1010, 1006 and then yesterday’s low area at 1004-1003.