Tech Earnings Concern
S&Ps are trading at 1122 on continued concerns over technology earnings. Selling has been largely in sympathy with Nasdaq.
As we said in the Morning Meeting, S&Ps has support below 1123 at the 1121.50 to 1120. area.
Nasdaq futures traded to a new weekly low at 1342. The next target, as we outlined in the Morning Meeting, would be the yearly lows in the Nasadaq CASH at about 1329. This will be critical for the market moving forward.
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