Target Practice
S&Ps are tradng at 1289 this morning, down 2.50 points, with targets on the upside and downside that are little changed (if any) from yesterday.
For today, we still have a key support zone in the same level as yesterday at 1286.50 to 1283. If we get below this, we’re going to look for a test of our key breakout area between 1275 and 1273.
On the upside, we have resistance between 1294 and 1296. If we get above it, we should retest yesterday’s highs, and our first target is the same as yesterday: 1300 to 1303.50.
NASDAQ is trading at 1915, down 10.50 pts. Bumpy ride yesterday with JNPR throwing the market a curveball. We’ll see how that plays out today.
For today, we’ve got support between 1905 and 1890. Encompassed in this zone is yesterday’s low at 1904 and Wednesday’s settle at 1896.
On the upside, we have scale-up resistance between 1930 and 1960. Today we think 1940 to 1945 is going to be a critical area. Above 1960 we have yesterday’s high of 1965.
The Dow settled 80 points off its high, but still settled up 32 on the day at 11,248.
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