US equity futures retrace about half of yesterday's decline

<p>Yesterday's 1.4% drop in the S&amp;P 500 was the worst since October and seemingly came out-of-the-blue on a late-day rout. It left an ugly mark on the daily chart to signal a potential reversal or consolidation after six weeks of non-stop buying.</p><p>The rebound today has gotten stuck in the 50-61.8% retracement range. It will need to get above that before the coast is clear. Given that the pop came without any real fundamental backing, it will be a tall task to clean up the entire decline today.</p><p>Look out for volatile moves though, as that's the kind of thing that happens at this time of year.</p><p>Premarket gainers include Micron +7% and Salesforce +2%.</p>

This article was written by Adam Button at www.forexlive.com.