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Sometimes one gets caught up in looking at the futures and forgets the
indexes they are based upon. The S&P future is subject to some
emotional swings and extensions that the index isn't. The future is
brought back into line through the arb of buying or selling baskets of
stock against the future. In checking the index this morning I find
that there should be support at 982 +/-. The exact number given is
982.71. It shows another Price objective at 871 +/-. These price
objectives first act as support and then as resistance, once
penetrated. Nothing goes straight down or straight up. Ira.
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