S&P 500 Index Futures Trading Lower

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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 23 points at 1923 in Friday's session. The weakness in the index from the pre-market session has prevailed into the regular session as the jobs report has failed to instigate a sustained rebound.

Off the open, the index retreated but found support off the pre-market low (1910.50), only reaching 1916.25 and subsequently rebounded into the 1920 handle. If the decline breaches the current low, there may additional support at Tuesday's low (1898.74).

All of the top 10 components in the index are in the red. Leading the way on the downside are two financial issues. JP Morgan JPM shares are trading lower by $1.46 at $61.22. Wells Fargo WFC shares are trading lower by $1.31 at $51.12.

Posted In: FuturesTechnicalsIntraday UpdateMarketsTrading IdeasPremarket outlook
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