Off The Lows
S&Ps making a move off the lows, but will have to get above 915.50 to increase the chances for a reversal. If that happens, they should try for 917 to 918. As we stated in the Morning Meeting, S&Ps are trading below yesterday’s value area of 924, which adds to the downward tone.
If S&Ps have trouble staying over 914, the downside target is 910-909.50.
The bounce in the Nasdaq has been a little weaker than in the S&Ps. Nasdaq needs to get over 1052 to improve its chances in the upside. On the downside, if Nasdaq goes below 1046, the downside targets are 1041 and 1037.