Slowing Down
S&P futures trade has slowed down above 1150 with the trade hanging around 1153.50 to 1151. The trade is very quiet at mid-day in the pit.
On the upside, above 1153.50 we have an open gap from 1158.50 to 1162.
The market is notably firmer at mid-day due to buying in the broader market.
In Nasdaq futures, the trade has also slowed at higher levels. If we can sustain a trade above 1660, the odds favor an afternoon rally.
The key is to maintain the trade between 1650 and 1660.