Tight Range
S&P futures in a tight range with attention focused on tomorrow’s Employment Report. In the late morning, S&Ps failed to take out of the high of the day, and retreated back into the 1253-1254 area.
Overall, we are still not looking for any significant activity below 1245. This has all the makings of a day stuck in a tight range.
Quiet in the NASDAQ market, trading at 1818. This market has been unable to sustain trading above 1820, just as the Semiconductor Index (SOX) could not get above its critical 600 level.
While the upside is having trouble “getting going,” we don’t see much of anything going on in these markets right now.