Holding
S&Ps are trading at 1119.70, with the market holding between roughly 1117 and 1123. Overall, this has been a range-bound, choppy and difficult trade with no momentum in either direction.
The upper end of this range — around 1122.50 to 1123.50 — is critical resistance. If we can get above that, we would look for short covering to take this market to the 1127 level.
Nasdaq is trading at 1605 after making a recent low of 1604. If we get below 1597, we are looking for 1591 to trade.
Earlier, the market was unable to get through 1619 and headed back into the lower 1600s.
Overall, this is a very thin trade with little liquidity.