Triple-Digit Futures
S&P futures are solidly into triple-digit territory, at 952 this morning, which is off 3290 pts. On the downside we have support at 950 and then major support at 948.50. Below that we have 944, 940, 939-938.50 and then 931.
On the upside, we have 953.50, and if we can get above that the target becomes 957 and then 959, which will be key resistance, and then 963. Above that we have 965 and then 971-972.50.
Nasdaq is down 37 at 1133. Support areas are extremely difficult to produce. Nonetheless, today we have key support right around where we will open between 1135 and 1128. Below this look for 1100. We have downside targets at 1121, 1115 and 1100-1108.
On the upside if we begin to retrace this open, the first key level will be 1150-1155. If we get above that, look for 1168. We have resistance between 1165 and 1172.