On the Plus Side
S&Ps trading at 944, below the high of the day at 949.50. Above this we have resistance from 950-952.50. With a sustained trade above 950-952.50, we would open the door for 960.
As we stated in the Morning Meeting, our first area of resistance will be 948, followed by the Globex high of 949.
Nasdaq is trading at 1026, in a grind-higher type of trade after the tide of this market changed at mid-morning. However, while the tone of the market is somewhat bullish, we’ll wait until the afternoon to see what the prevailing trend will be.
For more information on the Morning Meeting, please see: