Quieting Down
S&Ps are at 1080 in a quiet market with a cluster of resistance up ahead from 1081 to 1085. If we can get above 1085, the next target would be a big resistance area from 1088 to 1091.
Earlier, we saw consolidation in S&Ps between 1081 and 1077. The Nasdaq was the strength leader in the morning trade with good buying in the tech issues.
Nasdaq is at 1369 as the market has slowed down significantly. We expect a tight range through lunch time. Strength in
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PowerRating) and other key issues has helped this market.
If we get above 1387, the next big target on the upside would be 1400 with resistance along the way at 1391 to 1393 and then 1396.