Sell Signals
As long as S&P futures are below 875.50, the hourly and the daily are on sell signals. However, we see good support at 872.50 to 870.
As we mentioned in the Morning Meeting, the market is beginning to shift from war-related news to market fundamentals, including earnings warnings.
Meanwhile, on the upside, things look better above 875, but we would have to get above 878.50 the outlook to improve significantly.
In Nasdaq futures, the hourly and daily are on sells below 1042. The next downside targets would be 1029-1028. On the upside we see a small improvement above 1039, and a better outlook above 1046.50.