The S&P 500 Index futures fell during the session on Thursday after hitting the 1440 level as the “fiscal cliff” continues to be the main focus of market participants. We believe that there is a thick support zone between 1420 and 1400, so selling at this point time would not be where we would want to be in the marketplace. In fact, if this market falls, we will be looking for support at the 1400 level that should continue to make the market somewhat buoyant. On a break down below the 1380 level however, we would be very bearish of this market as it would look to selloff drastically.
