More Consolidation
More consolidation in the equity index futures markets today. S&Ps saw consolidation, once again, in the 1102.50 to 1098.50 area.
This market has seen somewhat of a comeback from the Greenspan losses. Greenspan testimony did trigger some early selling, or at least was linked to the blame.
Weakness in the semiconductors
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PowerRating) in the mid-morning made for a low in Nasdaq at 1397. Below this level, we have support at 1396 to 1394 and then 1388 to 1385. Up to the 1400 level, we expect a thin and choppy battle. As usual, keep your eye on the SOX.