SPX S/R 5-25-11

SPX support and resistance shows the two critical levels to watch today; 1323.72 and 1313.87.  Futures are down so the bears are favored at this time.  If 1314 support is lost, that leads the way to 1312 and 1305. Continue to watch that 1318.51; as long as the SPX is under this level the bears are favored.

·        1343-1344

·        1341

·        1338-1339

·        1337

·        1335-1336

·        1331-1333

·        1329

·        1325-1327

·        Tuesday HOD 1323.72 – up thru here and the bulls will run lots higher

·        1318-1323 (watch 1318.51 closely)

·        1314-1316

·        Tuesday LOD 1313.87 – down thru here and the bears will run lots lower

·        1312

·        1305-1308

·        1298-1301

·        1294-1295

·        1286-1287