Friday, July 29, 2011

S&P 500 ~ Update ~ 29 July 2011

We got a nice bounce from the 1306 area yesterday and then sold off again into the close.

The SPX is going to gap down today below the medium-term support around 1295. (I usually use a daily close to determine whether it's broken or not, so let's see where we close today).

Short-term there is support at 1280 and 1285 and resistance at 1301 (gap).