New Lows
S&Ps put in a new low at 1079.20. Local traders who had been the lead sellers were quick to cover below 1080. On the downside, as we said in our Morning Meeting, we have key support at 1077-1076.50, with 1076.50 as the low for 2002.
The grind lower continues in Nasdaq futures as we slip to a new session low at 1375. Below this, we have support between 1364-1358.
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