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 seven points at 2086.75 in Thursday's session. The attempted rally off the open has failed miserably as the index peaked ahead of the pre-market high (2099), only reaching 2098 before reversing course.
All but one of the top 10 components in the index are in the red. The lone one in the green is Wells Fargo WFC shares are trading higher by only $0.13 at $57.78.
Leading the way on the downside is Microsoft Corporation MSFT shares which are trading lower by $0.59 at $47. It is followed by Apple Inc. AAPL shares which are trading lower by $0.60 at $114.80.
At this time, the index is attempting to find support ahead of the trio of lows from Monday, Tuesday and Wednesday from the 2080-2082.25 range, only reaching 2084.25 before rebounding.
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