Psychologically Speaking…

The stock index futures markets received a major boost after trading well above psychological levels at 1300 for the S&Ps and 2000 for the NASDAQ futures.

This morning, S&Ps are up 2.00 at 1316.50. On the upside, we have 1317, 1320 and a key area at 1324.50 to 1325.

On the downside, the first level is 1315-1314.50, which encompasses yesterday’s settlement. Below that, we have 1312.50. The next level is 1309.50 to 1310, which is a key area.

NASDAQ is trading up 21 at 2073. For today, we have support between 2040 and 2029. Under that, look for 2010. We have key support between 2015 and 2005. We have resistance from 2080 to 2091. Above that, look for 2125.

Another final-hour rally for the Dow to finish in positive territory. We’re coming up on key settlement areas from earlier in the year between 11,366 and 11,425.