SPX S/R 3-23-11

Bears have a slight advantage to start the day since it is easier and closer for price to fall thru 1292.70 rather than move up thru 1299.35.  Time will tell.  If the SPX hits one of these limits, the move in that direction will accelerate.

Key S/R is 1303, 1300, 1294, 1291 and 1286.  The fun begins today at 1294; bears want 1293 and lower, bulls want 1299 and higher.

·         1303; 1302.67; 1302.62; 1302.77; 1302.58

·         1302; 1301.67

·         1301; 1301.19; 1300.58

·         1299-1300; 1299.63; 1299.54; 1299.55; 1299.35

HOD Tuesday 1299.35

·         1298; 1297.51; 1298.38; 1298.29

·         1296; 1296.06; 1296.39

·         1294-1295; 1295.02; 1294.83; 1294.26; 1294.21; 1295.11; 1293.77

·         1293; 1293.24; 1293.22; 1293.43; 1292.70

LOD Tuesday 1292.70

·         1292; 1291.93; 1291.97; 1291.99

·         1291; 1291.21; 1290.84; 1291.26; 1291.18

·         1290; 1290.16

·         1288-1289; 1289.14; 1288.46; 1288.88

·         1286-1287; 1286.70; 1286.87; 1285.78; 1285.96; 1286.12; 1287.17; 1286.37