Quiet Trade Off The Lows
A quiet trade off the recent lows in S&P futures. After the 1140.50 print, we saw a move back to 1143. Earlier, we put in new session lows at 1136.50 on continued selling pressure from institutions.
The trading pit is about half-empty, so be cautious trading over the lunch hour. We’ll see what the afternoon session holds.
Nasdaq futures traded below our downside objective of 1570 earlier this morning. On the downside, we could see more pressure from 1565 down to 1550. On the upside, if we get back above 1588, we’d look for trading in the upper 1590s.