SPX S/R Big Picture 4-17-11

The following list highlights key support and resistance for the SPX.  The Friday session danced within that 1318-1323 zone using the 1323 resistance as a firm ceiling.  If SPX moves up to touch the 1323 area and above, then the buying will accelerate.  Upside resistance of 1326, 1329 and 1333 would be in play.  If the 1318 level is lost, watch 1315 support, which was pivotal last week, and if you see a 1313 handle, the selling should accelerate for the market bears.

·         1404

·         1400

·         1377

·         1360

·         1350

·         1344

·         1341

·         1338

·         1331-1333

·         1329

·         1325-1326

·         1318-1323

·         1315-1316

·         1312

·         1311

·         1307-1308

·         1305-1306

·         1303

·         1298-1301

·         1294-1295

·         1270

·         1261-1263

·         1258.5-1259.0

·         1257-1258

·         1252

·         1243-1244

·         1235