Pressure
S&P futures traded down to 906.5 as selling pressure continues. Among the equities under pressure is GE, which led the S&Ps lower.
Earlier, we broke through support at 910-909, leading to the 906.50 level. As we stated in the Morning Meeting, we would expect wide ranges and very volatile conditions in the market today.
Nasdaq futures retested the low of the day at 949, which is within a support band at 953-948. A close below 949 would open the door for a move to 927.
For more information on the Morning Meeting, please see: