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em>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 1970 in Wednesday's session. Off the open , the index found resistance just above Tuesday's high (1973), reaching 1974.25 before reversing course. So far, the slow decline has not reached the premarket low of 1962.75.
Only three of the top ten components of the index are in the green. Exxon Mobil
XOM shares are trading higher by $1.19 at $74.05. Also, General Electric
GE shares are trading higher by $0.38 at $25.68.
Leading the way on the downside is the Wells Fargo
WFC shares)(, which are trading lower by $0.48 at $52.99. Also, Apple Inc.
AAPL shares are trading lower $0.32 at $115,96.
The rebound high in the index from the Flash Crash low stands at 1983.50 and the highest close has been 1980.50.
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