The Range
S&Ps are at 1311.70, with a high of 1318.50 and a low of 1309.00, a range that will probably contain the trade through the lunchtime trade.
A relatively slow market thus far. The market couldn’t gain any ground at the new high.
NASDAQ meanwhile is trading at 2042, coming off the new lows for the day at 2037. The market has struggled a little bit, and local traders have been playing the short side. But there is not any strong momentum on the short side.
For the afternoon trade, keep your eye on the Semiconductor Index, which is off nearly 2%.