Uphill
S&Ps trading near the session highs established in the late morning at 1178. This market faces scale-up resistance to 1180.
Opening range was established at 1168-1168.50. With no significant selling at that level to push us lower, the market took on a firmer tone. Still, a quiet market overall.
NASDAQ trading up 3 at 1593, after putting in a high at 1615 and a low of 1586. NASDAQ has been under pressure from the Semiconductor Index (SOX), but has managed to shrug off most of it.
If the NASDAQ can sustain over 1600, then 1630 becomes the target. Below 1600, the downside pressure increases.