S&P 500 Index ($SPX) & S&P 500 SPDRs (SPY)
Throughout the night session the price of the S&P 500 E-mini ( ESHO:CME) has been oscillating like a seismograph chart . At the present time the Futures are indicating a positive open. The S&P 500 Index ($SPX:NYSE) and the ETF S&P 500 SPDRs (SPY:NYSE) have formed long legged Dojis in the last two sessions. Perhaps today the Index will finally decide on the direction of the trend that will be followed in the coming sessions. The initial resistance and support levels are shown on the daily chart with 1074.62 to the upside and 1058.71 to the downside. A break and close below 1058 would probably bring smiles to the faces of the bears.
The Resistance and Support Levels for the S&P 500 Index ($SPX) are shown in following Table 1. This is combined Fibonacci ratio derived levels as well as the calculated levels.
- Table 1
Resistance & Support Levels for $SPX
- 1090.52
- 1081.72-1081.381074.75-1074.62
- 1070.4
- 1068.13
- 1067.51
- 1065.99
- 1061.89
- 1060.42
- 1058.71
- 1057.79
- 1053.29
- 1052.72
- 1044.50
- 1038.39
- 1029.38
- 1024.06
In Table 2 the Daily Resistance and Support levels for the S&P 500 SPDRs (SPY) are listed.
- Table 2
Resistance & Support Levels for SPY
- 111.38
- 109.89
- 108.40
- 107.70
- 107.01
- 106.21
- 105.42
- 103.93
- 102.44
