Pressure
S&Ps trading near the lows of the day, with the Dow turning negative. Selling in the technology put pressure on both the S&P and the Nasdaq today.
S&Ps trading below suport at 990.50-986 and 983.50-981. Below this, as we said in the Morning Meeting, we have major support at 978.50-977.
Weakness in the Nasdaq today, trading at 1027 and approaching the 1022-1019 area. Below this, we would look for an increase in volatility to the downside.
For more information the Morning Meeting, please see: