Off the Charts

The S&P gapped down below last week's low of 1684, but managed to erase most of the pre-market losses. The index finished down only 0.12% while the Nasdaq showed relative strength, finishing up 0.27%.

Today was another quiet August session but the market maintains its resilient 2013 character. Last week's choppy action caused traders to be more alert as the S&P traded back below the 1687 to 1700 level, but the upper level floor of support sits at 1671 to 1673. The volume remains light as we drift further into August, so less is more at this point....474 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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