Rolling Over
S&Ps were down 15.10 points at 1229, on no particular news. This is typical of rollover, which tends to have a very wide range. We expected roughly 1215 to 1272.
On the downside we have 1226, 1223, 1219 and a key at 1215.50, then a small at 1213, and major at 1209.50.
On the upside, we have 1232, 1236.50, 1238 and 1240.
NASDQ is trading at 1787.50, which is down 50 handles, and the contract low. Limit down is at 1772.50. If we get below that, we have support between 1765 and 1750. Double limit down today comes in at 1707.50.
Resistance is between 1810 and 1820. Above that, we have 1835 to 1850.
The Dow finished up over 1% on the week, even though it lost 213 points on Friday. Today will be critical to see if we can get some type of stability in the market. Below 10,500 things look a little dicey.