Off The Lows
S&Ps traded back to 1268 in the late morning, coming off the lows. Significantly, we are trading above the key 1260 level.
Earler, we saw a very locally dominated trade between 1263 and 1267. Locals were short this morning, in a market that saw periods of quiet and then heavy dealer activity.
NASDAQ trading at 1951 afer putting in a high below the psychologically important 2000 level. Earlier, we traded lower with heavy seller from one brokerage firm, in particular, but the market stayed above 1900.
In the mid-morning, the trade was largely locally dominated. Locals have been short-biased today.