Courtesy of Benzinga.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
S&P 500 index futures were trading lower by seven points at 2093.50 in Thursday's session. In pre-market trading, it found resistance just ahead of Wednesday's high (2104.25), only reaching 2103.35. During the regular session, it peaked at 2098.50 before declining to 2087.75 and rebounding back into the 2090 handle.
All of the top 10 components in the index are in the red. Leading the way on the downside is Procter & Gamble (NYSE: PG) shares, which are trading lower by $3.05 at $77.57 after the Street was not satisfied with its Q2 earnings report. It is followed by Pfizer (NYSE: PFE) shares, which are trading lower by $0.26 at $35.50.
If the decline continues through the intra-day low, there may be additional support at Wednesday's low (2084.25).
Posted-In: Futures Technicals Intraday Update Markets Movers Trading Ideas
