SPX S/R Week of 9-26-11

SPX support and resistance is provided below. Looking at the last two days of trading on a minute basis, the SPX is trading in a range between 1119 and 1142. Price will break out of one side or the other and that will show you which side wins.

For Monday, the market bulls need to touch an 1142 handle, if so, the buyers will come into this market and you will see the SPX move up to test 1145 then on towards 1155. The market bears need to get under 1121, if so, the sellers will arrive in force, 1119 would probably fail in short order, then down to test 1115, and lower. A move thru the 1122-1140 range on Monday is sideways indecision. Europe news will dictate direction. For support, 1119 is very  important since it represents the bottom of this two-day range, also 1101.54, the 8/9/11 intraday low.

·        1172

·        1171

·        1168

·        1166

·        1163

·        1162

·        1159

·        1158

·        1155

·        1152

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

·        1148

·        1145

·        1144

·        1142

·        Friday HOD 1141.72

·        1141

·        1140 (weekly closing low for 2005)

·        1138

·        1136

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

·        1131

·        1129

·        1128

·        1127

·        1124

·        Friday LOD 1121.36

·        1121

·        1119

·        1118

·        1115 (EOY 2009)

·        1114

·        1112

·        1111

·        1109

·        1104

·        1101 (1101.54 LOD 8/9/11)

·        1099

·        1098

·        1097

·        1095

·        1094 (LOD 5/7/10)

·        1092

·        1090

·        1088

·        1087

·        1083