in technical analysis, Uncategorized

S&P 500 Technical Analysis – Holding firm at current levels

Yesterday’s low was 1135.50, which was more or less a hold of our S1 support at 1136.50, and was most definitely a hold of our first bold support at 1131.75.

We are still bullish then, and still hoping that 1150 will be taken out soon to see the market getting over this current bout of nerves.
Once through 1140 we can gun for 1174.75, the highest print we’ve seen in this one since May’s “flash crash”.

Below are today’s support and resistance levels, the importnat ones in bold type.

R7  – 1166.25

R6  – 1159.50

R5  – 1153.75

R4  – 1149.75

R3  – 1146.75

R2  – 1144.50

R1  – 1141.25

S1  – 1136.50

S2  – 1134

S3  – 1131.75

S4  – 1127.25

S5  – 1120.75

S6  – 1117.25

S7  – 1114.25

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