Here is our first look at the SP 500 September futures contract.
There is quite a bit of up and down trading 'chop' in the past couple of weeks after the initial bounce took the price up to the 38.2% retracement level. We heard that Goldman took a big position in the SP futures this morning in the pits, and the rest of the day was a pumping of stocks to help ensure those daily gains.
Follow through is everything at this point as we are nearing a key resistance point.
DELL is halted after hours, announcing that it will delay its 10Q filing as a result of discussion with the SEC that will reducing its earnings in the neighborhood of 100 million dollars, or about 5 cents per share for the quarter.
