Thin Trade
S&Ps traded to a new low at 1137.50, but recovered quickly on some light buying. Overall, a very thin market with little interest.
S&Ps have spent very little time below 1138.50. With a sustained trade below 1137.50, however, the target becomes the 1135.50-1133 support zone. As we said in the Morning Meeting, below 1133, the target becomes 1130.50.
Nasdaq is trading at 1438 as the market slips below 1440. The Semiconductors
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$SOX.X |
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PowerRating) have been a little stronger, but there is not much interest in the trade at this level. We would expect an acceleration to the downside if Nasdaq futures get below 1429. On the upside, we would expect buyers to step in above 1453.
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