Lower Still
S&P futures in the late morning traded below Wednesday’s low at 950.50 with a new print at 948.50. The target now is the 944.75 in CASH, which was the low print on September 21, 2001, as we mentioned in the Morning Meeting.
Intel is certainly contributing to this decline. Also keep an eye on GE.
Nasdaq has also fallen sharply lower printing a new low at 967. The Semiconductor Index (SOX) is challenging its key support, meanwhile.
For more information on the Morning Meeting, please see: