S&P 500 Index Futures Trading Higher In Choppy Session

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

S&P 500 Index futures were trading higher by six points at 2080.50 in Thursday's session. During pre-market trading, the index swooned passed Wednesday's low (2061.25), reaching 2057 before rebounding back to the close before the opening bell.

In choppy trading it has found resistance at 2078.75 and support at 2069.25. If the decline continues through the current low, there may be very little support until Wednesday's low (2061.25). If the rally continues through the intraday high, there may be very little resistance until Tuesday's close of 2084.

The top 10 components are mixed with Exxon Mobil Corporation XOM leading the way on the downside, trading lower by $0.78 at $87.41 following crude oil moving lower. The leader on the upside is Microsoft Corporation MSFT, which was trading higher by $0.52 at $46.80.

The SPDR S&P 500 ETF Trust SPY was up $0.40 at $208.43.