SPX S/R 7-28-11

SPX support and resistance shows we are in that 1300-1307 zone now.  For today, bears have not pushed under 1303.50 so things are calm. If that level is lost today the selling will accelerate to the support levels below.  Bulls are simply hoping for a sideways market to stop the bleeding.

·        1333

·        1331

·        1329

·        1326

·        1323

·        1321

·        1318

·        1316

·        1314

·        1312

·        1307

·        1300

·        1298

·        1297 (gap fill needed)

·        1295

·        1292

·        1289

·        1287

·        1286

·        1282

·        1281 (gap fill needed)

·        1280

·        1272-1273 (LT S/R)

·        1270

·        1268