Neutral Zone
S&Ps were trading around unchanged at 1276.50 before the opening this morning, in a neutral zone between 1274.50 and 1279.50.
If we get above 1279.50, look for a move to 1286.50. On the downside below our neutral zone, look for Friday’s low of 1266.50. We have support between 1270.50 and 1269.
The NASDAQ was trading down 5 points at 1918.50. As for the session, we have resistance between 1920 and 1930. Above this, 1934 was Friday afternoon’s high, then look for a move to 1970. Along the way, 1940 to 1955 is resistance and then we have some light resistance between 1965 and 1970.
We have support between 1910 and 1900. Thursday’s low and Friday’s low are contained in this area. If we get below this, look for a move to 1850.
As for the Dow, it’s rather disappointing that it closed below 11,000. Still, as long as it remains above 10,750 the index still has strength.