Thin And Choppy
S&Ps at 1059.50 in a thin and choppy market. The market is chopping between 1062 and 1058.
Pressure in the Dow and in some key Nasdaq stocks is contributing to the softness in the market.
Earlier, we failed to move up to 1066, knocking this market back down to the 1060 level. Expect a choppy trade to continue in this area.
Nasdaq is trading at 1258. On the downside, 1240 is critical support that must hold for the upside to have hope of continuing.
Softness in Microsoft and Intel, as well as in the Semiconductor Index, is impacting the Nasdaq trade today. Keep an eye on these indicators for a look at what Nasdaq futures are likely to do today.