Quietly Higher
The stock index futures markets are quietly higher at mid-day, with S&Ps staying mostly in the heavily traded range of 1224 to 1226.
The pit is emptying out, and volatility may very well dry up in advance of tomorrow’s Employment Report. Look for a slow, choppy trade in the afternoon. On the upside, the next important target is 1228.50.
NASDAQ is trading over the important 1753 level. Up ahead, we see reistance at 1758 to 1763. The pit, however, is now very quiet so expect a choppy lunchtime trade.
Buying in the semiconductors has helped this market. But now we expect volatility to evaporate in Nasdaq at least until later this afternoon.