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Monday Market Outlook: November Rain

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Every Monday, Benzinga Radio brings you trading intel from the S&P Futures Pit of the Chicago Board of Trade with 's Ben Lichtenstein.

S&P Futures were lower this morning, giving traders little hope for recovery after last week's abysmal market performance. "Definitely a very negative tone ahead of the open," says Lichtenstein.

A key signal this week will be whether or not trading is maintained above the 1200 level. "If we can get up above this 1209 level that would be encouraging to get back into Friday's range."

Lichtenstein's bottom line: "We're either going to see a strong bounce off these levels and we'll be back to the upper extreme of that balance, up at that 1270 level, or I think the technicals are going to play much more."

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