S&P 500 Index Futures Sharply Lower

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. S&P 500 index futures are trading lower by 24 points 2076.75 in Friday's session. After a tight trading range for most of week, the index was in the red for the most of the pre-market session and the sell-off continued off the opening bell. During pre-market trading, the index found resistance just above the double close area from Wednesday (2099.75) and Thursday (2100.75), reaching 2101.75 before turning lower. So far, the index has breached Tuesday's low (2075.75), reaching 2072.50 before rebounding to its current level. On a rebound, there are only minor resistance levels in the remainder of the 2070 and 2080 handles. The SPDR S&P 500 ETF Trust SPY traded at $208.32, down $2.09.