Short Side
S&Ps trading at 1144.50 after putting in new lows at 1142.10, prompting locals to cover shorts.
We’ve seen selling since the market broke below the 1146-1150 zone, pushing us steadily lower.
The market has had a bias to the dowside, at least from a daytrading perspective, since the failed retest at the highs.
Nasdaq futures trading at 1602. The market is lower on weakness in the
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PowerRating). As we saw earlier, there is resistance up toward 1615.