Quietly Higher
S&Ps trading just off the highs of the day at 1281.20. If we can sustain trading here, we would expect a grind-higher trade for the afternoon.
This market is quiet, though, with a contraction of volatility — a typical “rollover” trade. On the downside, we have support at 1275-1276 and then 1271 to 1269.
NASDAQ trading at 1918 after hitting an upside target at 1920. We see a small band of resistance at 1920-1927. The market has strengthened above the 1905 level. On the downside, we see 1885-1890 as a target.