Trying To Make Headway
S&Ps were trading up 3.80 at 1239 at mid-day, in a relatively quiet market that appears to be trying to make some headway.
Thus far, we’ve seen a 9.90-point range today, and the Pit is quiet. Significantly, S&Ps have failed at the 1242-1244 area again.
Overall, this market feels like it wants to go higher, but this is rollover week, from March into June, which will affect this trade.
On the downside, we have support between 1235 to 1236.50.
NASDAQ, meanwhile, was trading up 35.50 points at 1912. This market remains range-bound in a 49-handle range.
On the upside, above the high of 1940, we have resistance between 1945 and 1955. The SOX has been helping this market overall. Continue to keep an eye on semiconductors.