Wednesday, April 27, 2011

SPX S/R 4-27-11

SPX stopped only 45 pennies away from the psychological 1350 level yesterday.  If the 1350 handle is touched today, SPX should accelerate higher a few handles.  Market bears need to see the 1337 handle lost to get anything going lower.

Markets will probably idle in front of the press conference at 2:15 PM EST, where the fate of the dollar, and thus the markets, will then be known.

·         1377
·         1360
·         1350
·         Tuesday HOD 1349.55
·         Tuesday Close 1347.24
·         1347
·         1343-1344
·         1341
·         1337-1339
·         Tuesday LOD 1336.75
·         1331-1333
·         1328-1329
·         1325-1326
·         1318-1323
·         1314-1316
·         1312
·         1305-1308
·         1298-1301
·         1294-1295
·         1286-1287

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