US STOCKS: Early Equities Roundup: Materials & IT Sector Shares Lagging

• RES 4: 6205.38 0.764 proj of the Jan 13 - 24 - Feb 3 price swing     
• RES 3: 6200.00 Round number resistance 
• RES 2: 6178.75 High Dec 6 and key resistance
• RES 1: 6162.25 High Jan 24                 
• PRICE: 6132.00 @ 14:26 GMT Feb 19 
• SUP 1: 6075.54 20-day EMA           
• SUP 2: 6014.00/5935.50 Low Feb 10 / 3
• SUP 3: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
• SUP 4: 5842.50 Low Jan 14

S&P E-Minis have faded off highs intraday, but remain firm and hold the bulk of the recent phase of strength. Attention remains on resistance at 6162.25, the Jan 24 high. Clearance of this level would expose the key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend. On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would highlight a bearish development.

US Equities are set for a negative open, the pullback in futures was mostly Tech led as oppose to new fundamentals or Headlines.

European Estoxx has been trading in overbought territory, and was possibly due for some unwind, while the SPX reached a new all time record high Yesterday.

• Calls: SPX: 6,118.1 (-0.2%); DJIA: 44,429 (-0.3%/-128pts); NDX: 22,132.7 (-0.1%).

ERM5 97.9375/98.0625/98.1875c fly, bought for 1.25 in 7k.