Picking Up Steam
The S&P futures market came alive above 827, and now appears to be heading for 833 and possibly 835. Above that, as mentioned in the Morning Meeting, we have a pivotal area at 842 and then Friday’s high of 845.20.
Earlier, the market was confined to a short-term range of 824 to 827, until it broke through to the upside.
For the Nasdaq, as long as it is above 956.50, it looks like it will try for the 960 area and above that 962. On the downside, below 953, it will probably test 949.50-950.