S&P 500 Large Cap Index ( SPX ) - Waiting for the Fat Lady to Sing.
The S&P 500 Large Cap Index ( NYSE:$SPX ) got within 0.53 points of reaching the preliminary target level of 1153.94 and then closed just below 1150 at 1149.99.
While there may some correction still to come, I believe that the final top of the Bear Market Rally is perhaps two to three days ahead of us and that the Top will fall between 1162 and 1172.
If I am wrong and there is no more upside, I have highlighted support levels that I consider critical. If 1127.67 is broken to the downside then, in normal play, there would be a test of 1111.76.
The ETF S&P 500 SPDRs (NYSE: SPY) will mirror the actions of the Index. The initial Resistance levels are 115.35 and 115.64. To the downside, the Support Levels are 114.89 - 114.72 - 114.26 and 113.80.
The complete Resistance and Support data for the S&P 500 Index ( $SPX ) are given below.
S&P 500 Index ( $SPX )
Resistance and Support Levels
- CT- 1172.41
- PT- 1172
- R4- 1169.44
- R3- 1163.00
- PT- 1162
- R2- 1156.56
- PT- 1154.39
- CT- 1153.94
- R1- 1153.28
- DC- 1149.99
- ACLB1- 1148
- S1- 1146.84
- S2- 1143.68
- PT- 1138.77
- S3- 1137.24
- S4- 1130.80
- ACLB2- 1127.67
- GAP- 1125.12 - 1123.73
- ACLB3- 1121
- GAP- 1116.51 - 1116.11
FR- 1111.76
