S&P 500 Index Futures Unchanged In Range Bound Trading

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

'' S&P 500 index futures are unchanged at 2119 in Monday's session. For the second day in a row, the index has been range bound. So far. for the last two sessions,the index has chopped around in a narron ten point range. During premarket trading, it found support just below Friday's low (2013.25), reaching 2112.25 before rebounding. The ensuing rally has found resistance ahead of Friday's all time high (2122.75), falling short on several attempts at 2120.75. The index is being lead by Johnson & Johnson JNJ which is trading higher by $0.83 and at $103.13. The drag on the index is Microsoft MSFT which is trading lower by $0.56 at $47.73. Two financial components are also exhibiting strength as Wells Fargo WFC and JP Morgan JPM are posting slight gains.