More Pressure
S&Ps were trading down 11.00 points this morning at 1268, due mostly to Intel’s Q1 revenue warning.
For today, we have a key level of support at 1267.10, just below this morning’s level, and then a major at 1266, 1263.50, and a critical at 1260.50.
On the upside, look for 1270.50, 1273.50, 1278.50, 1280 and then a key area at 1283.50.
NASDAQ was trading down 52.5 at 1922. We have a first support zone between 1925 and 1920. Below that we have 1900 to 1890. Limit down comes in at 1909.50. Below 1890, look for 1870. Contract low is 1872.50. We have support from 1880 to 1870. On the upside, first resistance is 1955 to 1965. Above that, we have 1980 to 1990. If they get above this, look for yesterday’s high of 2025. Along the way, we have resistance between 2000 and 2012.