Trading Lower
S&PS are trading down 3.00 at 1099 this morning.
On the upside, we have 1100 and then an area from 1103 to 1107, which is where the market spent the majority of the day trading on Friday.
On the downside we have 1095, which was Friday’s low, 1093, a major at 1091.50, 1090 and then 1089.50.
Nasdaq is unchanged at 1451.50. For today, as long as we can get above and hold above 1450, we’ll look for 1485. On the way to 1485, the first key area is going to be 1460-63. Above this, look for 1472, with resistance between 1471 and 1474, and then 1485.
On the downside, below 1450, we look for 1437. Along the way, 1447-45 is support, followed by 1439-36.
The Dow was the only index not to fill the gap from Sept. 11.