More Consolidation
S&Ps are finding support mid-morning around 1070 as the market continues to consolidate. On the upside, the target is 1076, which may be reached on fresh buying and short covering. On the downside, support will erode with sustained trading below 1069.
Nasdaq is trading at 1273. Basically, this market is trading in a range between 1270 and 1290, which we don’t expect to change over the lunch hour.
Overall, the Dow is higher, but the techs are being sold.