SPX S/R Week of 10-10-11

SPX support and resistance for the path ahead.  For the Monday session, the day begins with the SPX sitting on support at 1155. The market bulls need to move the SPX up and over 1171 to regain that upside momo from last week. The market bears have an easier road for Monday. The bears only need to touch an 1150 handle to get the downside slide to start. If you see an 1149 handle, the sellers will enter the markets in force, and several handles will disappear quickly, SPX likely testing down to 1144-1145 in quick order.

·         1206

·         1204

·         1202

·         1200

·         1199

·         1198

·         1196

·         1193 (9/15/08 post-LEH bk)

·         1192

·         1189

·         1188

·         1186

·         1185

·         1184

·         1183

·         1181

·         1179

·         1178

·         1177

·         1176

·         1175

·         1173

·         1172

·         1171

·         1167

·         1166

·         1165

·         1163

·         1162

·         1160

·         1159

·         1158

·         1155

·         1152

·         1150 (5/6/10 and 5/10/10)

·         1148

·         1145

·         1144

·         1142

·         1141

·         1140 (Weekly closing low for 2005)

·         1136

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

·         1131

·         1127

·         1126

·         1125

·         1124

·         1122

·         1121

·         1119

·         1118

·         1116

·         1115 (EOY 2009)

·         1114

·         1109

·         1106

·         1104

·         1102 (1101.54 LOD 8/9/11)

·         1099 (1098.92 LOD 10/3/11)

·         1097

·         1095

·         1094 (LOD 5/7/10)

·         1092

·         1088

·         1087

·         1083

·         1079

·         1078

·         1076

·         1075

·         1072

·         1071

·         1068

·         1067

·         1066 (LOD 5/6/10)

·         1065

·         1063

·         1057 (2/8/10)

·         1055

·         1049

·         1047

·         1044 (LOD 2/5/10; critical S/R summer 2010)

·         1043

·         1039

·         1031

·         1028

·         1025

·         1023

·         987

·         666 (3/6/09 bottom)