Holding Support
S&Ps put in a new low for the session below yesterday’s low of 1156.80, but the support area of 1157-1157.50 has continued to hold. The sellers have not been aggressive on the lows. On the upside, we saw a choppy and volatile market this morning between 1161 and 1159.
As we stated in the Morning Meeting, if we break below 1155, we’re looking for 1149.
Nasdaq put in new lows below 1500 at 1497, but is still within a support zone between 1505 and 1495. The trade continues to be choppy.
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