S&P 500 Index Futures Trading Higher

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

S&P 500 index futures are trading higher by seven points at 2112.00 in Wednesday's session. Off the quick decline off the open, it found support just ahead of the premarket low (2101.25), only reaching 2102.50 before sharply rebounding.

So far, its has taken back much of Tuesday's losses, reaching 2115.75 before retreating to its current level.

Al;l of the top 10 components are in the green. Microsoft Corporation MSFT is leading the way trading higher by $0.65 at $47.24. It is closely followed by Apple Inc. AAPL, which is trading higher by $1.33 at $130.95.

Not fully participating in the rally is General Electric GE and Exxon Mobil XOM, which are posting only small gains.