S&P futures vs fair value: +5.7. Nasdaq futures vs fair value: +11.0.

Early sentiment continues to weaken ever so slightly, but the stage is still set for the bulls to build on two days of market gains. As evidenced by the Nasdaq sporting a more bullish disposition than the S&P 500, Cisco's (CSCO) upside revenue guidance restores some confidence throughout Technology and remains the driving force behind early buying efforts. While Technology is an influential economic sector, there's little evidence this morning to suggest the more heavily weighted Financial sector can continue to recover as much ground as it has after bottoming out on Friday and since yesterday's policy statement did not provide any indication that the Fed is leaning towards cutting rates anytime soon.