SPX S/R 9-7-11

SPX support and resistance is shown for tomorrow. Note how the 1140 level held today. The market bulls will run strong tomorrow if they can simply touch 1174. If so, tests of 1178 and 1181 should occur in quick order. The bears need to test and fall thru 1140 if they expect to accelerate the negativity again.  A move thru 1142-1172 is sideways slop. The Beige Book at 2 PM creates a potential market pivot so make sure you have your coffee in hand and are sitting in front of the terminal when the news is released. Thursday is shaping up to be quite an exciting day so perhaps tomorrow, Wednesday, the 1155, 1173, 1178 and 1181 levels will receive the most attention.

·        1200

·        1199

·        1197

·        1193(9/15/08 post-LEH bk)

·        1192

·        1188

·        1184

·        1183

·        1181

·        1179

·        1178

·        1177

·        1173

·        1171

·        1168

·        1166

·        1162

·        1159

·        1158

·        1155

·        1152

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

·        1145

·        1144

·        1141

·        1140

·        1138

·        1136

·        1133 (First trading day 1/4/10)

·        1131