ThinTrade
S&Ps are trading around 1093 in a very quiet market after recovering from the session lows. Earlier, we traded toward the bottom of our key support zone — that extends from 1096 down to 1090 — with a low print of 1091.50. Overall, a thin trade today.
As we stated in the Morning Meeting, we feel the market will find good support in the 1096-1090 zone, which was formerly a neutral zone for this market.
Nasdaq futures are trading around 1291 on some weakness in Microsoft
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PowerRating). Volume is light, and we do not expect this to change through the lunch hours. At mid-morning, Nasdaq had traded to 1286 before bouncing back to 1293. We see resistance between 1292 and 1298.
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