SPX S/R 4/4/12

SPX support and resistance is shown; focus on the 20-day MA support at 1397.21, bulls and bears will fight hard there. Markets are not in serious trouble until the 20-day MA fails.

·         1440 (5/19/08 Intraday HOD for 2008: 1440.24)

·         1427 (5/19/08 Closing High for 2008: 1426.63)

·         1425 (Gap Fill from 2008)

·         1424

·         1422 (4/2/12 Intraday HOD for 2012: 1422.38)

·         1419 (4/2/12 Closing High for 2012: 1419.04)

·         1417

·         1414

·         1413

·         1410

·         1408

·         10-day MA 1407.15

·         1406 (5/29/08 HOD)

·         1404

·         1403

·         1401

·         1399

·         20-day MA 1397.21

·         1394

·         1391

·         1389

·         1386

·         1378

·         1372

·         1371

·         1370 (5/2/11 Intraday HOD for 2011: 1370.58)

·         1368

·         50-day MA 1366.93

·         1366

·         1364 (4/29/11 Closing High for 2011: 1363.61)

·         1363

·         1361

·         1358

·         1356

·         1351

·         1347

·         1345

·         1344

·         1341

·         1339

·         1338

·         1337

·         1336