Quiet Lows
S&Ps are trading at 1157.30. Earlier, the market moved down to 1156.50, its lowest level since about 9:30 a.m. CST this morning, on a quick drop in the Dow. We expect scale-down support between 1155 and 1153.50.
As we indicated in our Morning Meeting, only a move above 1161.50 would generate upside interest.
Nasdaq is trading at 1497, right in the middle of yesterday afternoon’s range of 1499 to 1493. Very thin trade in the pit right now. On the upside, we would expect a choppy trade between 1500 to 1510 as the market consolidates.
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