Through The Support Zone
S&Ps are trading around 1089 after breaking below our key support zone from 1096 to 1090. Below 1090 sellers did step in with a new session low of 1087.60.
As we said in the Morning Meeting, below yesterday’s low of 1091 and support at 1088.50, we see major support at 1084 and then critical support at 1082 to 1081.50.
Nasdaq futures are trading at 1267, off the lows at 1264. Earlier, Nasdaq traded through its key support level from 1284 to 1278, which triggered some sell stops.
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