Futures were mixed ahead of the open for the overseas markets and worsened ahead of the bell here at home. The bulls have taken a few blows in the first half of trading but have managed to stay on their feet and are holding the 20-day Moving Averages (MA’s). Of course, the recent weakness has come just before session closes and today’s action will likely play out the same way. A close below the 20-day MA’s could lead to a test to the 50-day MA’s and the second layers of support we talked about this morning.
The Dow is down 111 points to 15, 897 while the S&P 500 is off by 8 points to 1,792. The Nasdaq is declining 12 points to 4,033 and and the Russell 2000 is getting hit for 4 points and is at 1,125. The S&P 500 Volatility Index ($VIX, 14.85, up 0.62) is pushing 15
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