S&P 500 Index Futures Sharply Lower

S&P 500 index futures are trading lower by 39 points at 1636.25 in Monday's session. The sell off off from premarket trading followed thought into the regular session. So far the index has pierced it January 21 low (1835.25), reaching the lower 1830 handle (!833.50) Based on the daily charts, the next major support level does not come into until its January 20 low (1804.25). Only one of the top ten components of the index are is in the green, that being Johnson & Johnson JNJ whichare trading higher by $0.70 at $101.24. Leading the way on the downside are Facebook FB shares which are trading lower $3.57 at $100.50.