January 13, 2011 – 9:34 am
The Russell 2000 and the S&P 500 both managed to edge resistance, with the S&P outperforming on the back of a very strong financial sector. The Russell and the S&P both get new resistance levels as as a result of the move higher. The Nasdaq 100 approached resistance but was unable to break out. In [...]
December 6, 2010 – 9:20 am
The indexes were relatively flat on Friday with the exception of the Russell 2000, which made fresh year-to-date and multi-year highs. Traders are clearly expressing a preference for domestic small-company stocks as we head into yearend. How long that will remain the case is yet to be seen. The last remaining resistance levels for the [...]
November 29, 2010 – 9:16 am
The markets took a haircut in an abbreviated post-holiday session on Friday, but there are no major changes to levels as indexes trade in a relatively wide band. The bulls have tried to rally the tape back but continue to run into resistance. Life has been no easier for the bears, as support continues to [...]
November 24, 2010 – 9:15 am
Yesterday’s sharp drop took out support for all of the indexes but did not touch last week’s lows. Support and resistance are updated for the Nasdaq 100, S&P 500, and Russell 2000 today. The key now a test of the 50-day moving average, a support proxy that is a make-or-break level for each index. A [...]
October 27, 2010 – 8:16 am
Once again a day that seemed to start out with a clear direction ended close to completely flat. As a result, levels for all of the indexes hardly moved. Other than an update for support in the S&P 500, there are no changes for today. Nasdaq 100 (NDX) First support is at 2097.73. First resistance [...]
October 25, 2010 – 12:07 pm
The major indices ended the week with modest gains as advances in four of the five sessions offset steep losses on Tuesday. Earnings results were in focus as more than 100 S&P 500 companies reported, including 12 Dow components. The S&P 500 rose 0.4% as seven of the ten sectors gained. Reaction to earnings was [...]
The S&P futures are currently pointing to a flat or slightly down open for the week, but today’s trading could be critical for the S&P 500 index, from a technical standpoint. As of Friday’s close, the SPX was within a few points of breaking major resistance at the 1106 area. If it does that today, [...]
Once again a game of turnabout saw Wednesday’s sharp decline erased even before markets began trading. Earnings optimism, combined with stronger-than-expected data from Europe, fueled the market by more than 1 percent at the open. Although the Nasdaq 100 and the S&P 500 finished off their highs of the session, the Russell 2000 managed to [...]
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