Testing Support…
S&Ps are trading at 1145.30 as the market begins to show deterioration that will probably lead to further downside. Weakness in the Dow is also adding to the downside pressure.
Earlier, the market struggled on the upside against 1150. As long as we stay below that level, look for the downside to dominate. Our targets on the downside are 1140 and below that 1138.
Nasdaq is trading at 1576, below what has been a key support level between 1588 and 1595. However, the market is struggling at the lows.