Technical Look: S&P 500 Index Futures Breach Lows From Tuesday's Session

S&P 500 Index futures were trading lower by 2040.00 in Wednesday's session. After Tuesday's selloff, the index found support ahead of Tuesday's low (2041.25), only reaching 2042.75 before rallying to 2052.25 in the premarket. However, it has found resistance ahead of that level at 2049.50 and is on the lows for the session. Much of the weakness in the index may attributed to weakness in the shares of

. The issue has been lower since the opening bell and is attempting to find support at $122.00 level. If that level is breached, it may not find support until its February 10 low ($120.16). If the index breaches the 2040.00, there may minor support at its February 9 low (2036.50) and additional support at the pair of lows on February 4 (2022.75) and February 5 (2022.75). The

traded recently at $204.84, down $0.16 (0.08 percent).