Stabilizing
S&P futures are attempting to stabilize around the 1170 area after buyers defended the 1167-1168 area. In general, the trade remains very quiet in the pit.
Earlier, S&Ps put in a new low print at 1167.2, still +5.00 on the day. As we noted in the Morning Meeting, a better than expected Non-Farm Payrolls Report gave this market a boost. We have resistance around 1170 to 1171.50.
The trade in Nasdaq futures continues to be slow, and currently trading at 1565. As we stated in the Morning Meeting, the key to the upside looks to be sustain a trading above the 1560-1562 area.
Click
here for your free seven-day trial to Lewis Borsellino’s E-mini Trade Service.