Wednesday, July 27, 2011

S&P 500 ~ EOD Update ~ 27 July 2011

What a day! The SPX declined more than 2 %!

The market already opened below the support at 1325 and then sold off all day until the gap at 1305 was closed:

Support areas are at 1305 and at 1296 (strong support!). Resistances are at 1312, 1320 and 1330-32.

Let's see if we get action again tomorrow (usually after a big down day the following day is sideways but the debt deal is still pending so we'll see ; )).