As long as S&Ps stay above 824, they should try for the cluster at 826-826.50, and above that the trend line at 827, and later 828.50.

On the downside, to break the immediate trend they would have to go below 821, then not get over 822 again. Below 822, as mentioned in the Morning Meeting, we have important downside/support targets at 817.50-817, and 815-814.50.

Nasdaq, meanwhile, has not acted as well as the S&Ps in its neutral zone. However, with a 15 minute close above 988, Nasdaq should try for 991-992, then 994, and later 996. On the downside, the pattern turns more negative below 983, and would most likely set up a test of 981, then the low area at 979-978.