Key Levels
S&Ps approached the 862.50 – 862 downside target and thus far have had a small bounce. On the upside, we’ll have to get above 865 for the outlook to improve. Above that, our targets are 866.50-867, as outlined in the Morning Meeting. On the downside, below 862.50 – 862, the targets are 860 and then 858-857.
Nasdaq has seen a small bounce thus far off the 997 target. However, as long as they are below 1002 the risk is still to a downside. The targets below are at 995 to 994.50.