Quiet Highs
S&Ps made new session highs at 1087.40, just above yesterday’s high. We have resistance up ahead at 1088, and if we get through there, could make some headway into the 1090-92 area.
But volume has been light. After a heavy first-hour trade, we have seen a significantly quieter market. While we have seen some scale-up selling, it is not of any significant volume.
Nasdaq futures are trading at 1429. Nasdaq has been the weakest market of the stock index futures today, but there has been a steady grinding trade off the lows. On the downside, we’re holding support at 1400.