Equities Roundup: Narrow Range Near 4-Month Highs

Stocks mixed in afternoon trade, Dow Industrials weaker vs. modest gains in SPX and Nasdaq stock, inside narrow ranges as market await another round of debt ceiling negotiations between House Speaker McCarthy and President Biden (pushed back to 1730ET vs. 1630ET).

• At current levels, Eminis are trading near the middle of last Friday's range after tapping the best levels since early February. S&P E-Mini futures are currently up 7 points (0.17%) at 4212; Nasdaq up 72.4 points (0.6%) at 12731.54; DJIA down 102.07 points (-0.31%) at 33323.52.
• Leading gainers: Communication Services, Real Estate and Energy sectors currently outperforming weaker Consumer Staples and Consumer Discretionary sectors.
• For a technical point of view, S&P E-minis traded higher last week and the contract breached key short-term resistance and the bull trigger at 4206.25, the May 1 high.
• Clearance of this level confirms an extension of the bull trend from Mar 13. This opens 4244.00, the Feb 2 high and the next important resistance.
• Key support is at 4062.25, the May 4 low. A move through this level would highlight a bearish threat.