Holding Support
S&P futures have thus far held the support area between 963 and 958 and is showing signs of consolidating between 959 and 965.
Currently, the market has quieted down after a very volatile morning. As this is the last part of triple witching, we expect some choppiness in the market this afternoon. However, keep in mind that this market has only rallied from the lows, and buyers have been absent at the highs. We’ll see if the buyers step up this afternoon — or not.
Nasdaq futures, meanwhile, have seen support at 1128 and then 1118-1115. On the upside, we have put in resistance at 1128-1135. This market has also quieted down after a volatile morning. Once again, keep an eye on the Semiconductor Index
(
SOX |
Quote |
Chart |
News |
PowerRating) for hints of where we’re going.