S&P 500 stalls after premarket bounce, breadth remains weak
Heavy premarket selling pushed S&P 500 futures near 5,470, where buyers stepped in, but gains stalled within 30 minutes. Only the Nasdaq managed to rise, yet it failed to flip breadth or the QQQ/SPY ratio bullish.
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S&P 500 futures (ES) fell sharply in premarket trading, nearly touching the 5,470 level. That area attracted buyers, sparking a brief 30-minute recovery. However, the bounce lacked follow-through: the index could not extend higher despite the initial buying pressure.
Meanwhile, the Nasdaq posted a slight gain but was unable to turn its own breadth metrics or the QQQ/SPY ratio bullish. The failure to confirm upside momentum leaves the market in a fragile state, suggesting the next bid may struggle to hold.
Source: FXStreet Forex News