New Session Lows
S&Ps put in a new session low at 1126, just above our target at 1125. We have key support in this area at 1126 down to 1124. If we break below this level, sellers could become more aggressive for a move to fill the gap at 1116.80.
On the upside, S&Ps have resistance (which was once support around the 1130 level.
Weakness in the Tech sector is pushing Nasdaq futures below our 1640 support area for a new low for the day at 1632. On the downside, we have support from 1625 to 1621.
On the upside, this market spent a fair amount of time chopping around the 1650 level. We would expect a grinding trade up to the 1670 area.