The Zone
For today, we see a transition zone for S&Ps between 1264.50 and 1268. Above it, we’ll favor the upside, and below it we could head lower.
Currently, S&Ps are at 1270, up .80 pts. Above the transition zone the next targets are 1271 and 1273.50. Below the transition zone we have 1261.50 and 1259.50.
NASDAQ is up 18 at 1860 on what the market is seeing as good news from XLNX. For today we have a neutral zone between 1850 and 1860. If we get above this, we go back into our resistance zone between 1870 and 1885.
On the support side, under our neutral zone we have support at settlement at 1842 all the way down to 1835. Below this, 1828 to 1820 is critical.
The Dow settled back above 11,000 and appears poised to test about 11,250.