Thursday, July 28, 2011

S&P 500 ~ Update ~ 28 July 2011

In my previous post I mentioned 1296ish being a strong support. Let me show you that in a chart:

Since the beginning of this year the SPX has been trading in about a 100-handle-range between 1260 and 1360 (most of the time the range was even smaller (1295-1345)).

So there you have the important medium-term support and resistance levels: 1260, 1295 and 1345 (and probably ~1360-70).