Taking A Breath
S&Ps trading at 1082, with some help from a little positive news on Tyco
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PowerRating). Overall, the trade has slowed down after an aggresive liquidation that pushed this market down to 1077.
In the near-term, our upside targets are 1082.50-1083.50 and then 1087-1087.50.
Nasdaq futures are getting a little help from a recent bounce in the Semiconductor Index
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PowerRating). We see scale-up resistance at 1465-1475. Earlier, NDH traded to a new low on the session at 1438, under the downside target at 1440.