In the agriculture sector, Corn and Wheat futures saw buying – gaining 2.9% and 2.1%, respectively.
Once again, we are skeptical that there will be much action this afternoon. The market appears to be consolidating, with resistance ahead of 1,400 on the S&P futures. With the way things are looking, the market may wait until earnings season is over before its next move. Check out Alex’s view of the S&P technicals here.