New Session Lows
New session lows at 1136.50, above yesterday’s session low of 1135.50. We have support at 1136-1135, and below this at 1133.50-1131. With a move to new lows, the chance of testing these support zones has increased.
On the upside, the key level remains 1140. We need to get back above that level for this upside to have a chance today.
Nasdaq has moved lower in sympathy with the broader market here, and may be moving to new lows. Earlier, Nasdaq failed just below the high of the day, which added to the downside pressure.
On the upside, the main target appears to be 1605-1607.