Uneventful
A largely uneventual trade in the late-morning in the S&P and Nasdaq futures. S&Ps have been holding between 887 and 884.50, with very little interest in the trading pit. Earlier, this market saw some whippy action with a rally from the 882.50 low to a new high at 891, only to fall back to 885.
As we stated in the Morning Meeting, the focus will be on Wednesday’s one-year anniversary of Sept. 11.
Also keep in mind that we have a heavily traded consolidation area between 889 and 878.
Nasdaq has also experienced little interest in its uneventful trade. Earlier, it bounced off the lows, but failed to sustain a trade above 910.
For more information on the Morning Meeting, please see: LINK