SPX S/R 9-15-11

SPX support and resistance is shown below. Key levels are highlighted in bold. Note the importance of 1193, 1198-1199, and 1204. The action around these S/R levels will tell you a lot today.

In today's trade, the market bulls need to move the SPX above 1202 if they want to accelerate the upside. A punch thru 1204 would be likely with a quick move up towards 1210.  High print so far today is a penny shy of 1201, so close but no cigar.  Bears need to drive lower to move under 1163 to accelerate the selling. A move thru 1164-1201 today is sideways slop.

·        1262

·        1259

·        1258 (1257.64 is the starting number for 2011)

·        1257 (3/16/11)

·        1252 (9/14/08 pre-LEH bk)

·        1249 (LOD 3/16/11; failure at this level 8/4/11)

·        1247

·        1242

·        1235 (12/15/10; also HOD 12/7/10 large volume)

·        1233 (LOD 12/16/10)

·        1227 (HOD 11/9/10)

·        1226 (11/5/11)

·        1225

·        1224 (12/7/10 large volume)

·        1222

·        1220 (HOD 4/26/10)

·        1219

·        1217 (4/23/10)

·        1213

·        1210

·        1209 (HOD 4/29/10)

·        1207 (4/29/10 Top)

·        1206

·        1204

·        1202

·        1200

·        1199

·        1198

·        1196

·        1193 (9/15/08 post-LEH bk)

·        1192

·        1189

·        1188

·        1186

·        1184

·        1183

·        1181

·        1179

·        1178

·        1177

·        1173

·        1172

·        1171

·        1168

·        1166

·        1162

·        1159

·        1158

·        1155

·        1152

·        1150 (Important from 5/6/10 and 5/10/10)

·        1145

·        1144