S&P 500 Index Futures Under Selling Pressure

Loading...
Loading...
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
S&P 500 index futures were trading lower by four points at 2090.75 in Tuesday's session. In the last two trading sessions, the index stalled just ahead of its all-time high (2110.25), peaking on Friday at 2106.75 and on Monday at 2107.00. In today's session, it struggled to reach 2100 handle, only reaching 2101 before reversing course. So far the decline has taken the index through Monday's low (2093.25) and is attempting to find support in the upper 2080 handle, reaching 2088.25 and rebounding slightly. If the decline continues over the next few days, there may not any major support until the pair of lows from Thursday's (2076.50) and Friday's (2077.75) sessions. Only one of the top 10 components that comprise nearly 20 percent of the index are in the green:
Microsoft CorporationMSFT
were hanging on to a meager $0.22 gain at $43.07. The
SPDR S&P 500 ETF TrustSPY
recently traded at $209.50, down $0.52 (0.24 percent).
Posted In: FuturesTechnicalsIntraday UpdateMarketsMoversTrading IdeasPre-market outlook
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...