SPX Trade Levels

Key support: 1175
Key resistance: 1304

Profit taking levels: 1275,1292,1362
Stop loss level: 1215,1200,1164

Key Weekly Number: 1257

SPX levels to watch:

1221 (Fib 50% Low:1074 to High:1370)
1225 (Fib 38.2% Low:1074 to High:1370)
1227 (100 day SMA)
1242 (Bottom of the channel)
1249 (Japan Bottom)
1257 (Flat on the year)
1272 (200 day SMA)
1275 (Most recent high)
1362 (Top of the channel)

Fibonacci number:

1292 (Fib 0% Low:1074 to High:1292)
1183 (Fib 50% Low:1074 to High:1292)
1157 (Fib 61.8% Low:1074 to High:1292)
1074 (Fib 100% Low:1074 to High:1292)

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SPX Trade Levels

Key support: 1175
Key resistance: 1304

Profit taking levels: 1275,1292,1362
Stop loss level: 1215,1200,1164

Key Weekly Number: 1257

SPX levels to watch:  1221, 1227,  1242,  1257,  1265, 1275, 1292, 1362

SPX Trade Levels

Key support: 1175
Key resistance: 1304

Profit taking levels: 1362, 1275
Stop loss level: 1164

Key Weekly Number: 1253

SPX levels to watch:  1221, 1227,  1242,  1257,  1275

S&P key themes from 3Q 2011 earnings conference calls

(1) Uncertainty regarding the US economic outlook, regulatory environment, and global political landscape erodes management confidence
(2) Companies respond to uncertain outlook by cutting costs, postponing hiring, delaying investments, reducing inventories, and strengthening balance sheets
(3) Profit margins stand at peak levels but while some firms are raising prices and expect margins will rise others expect margins will fall given the inability to pass through higher input costs
(4) Emerging markets continue to drive growth despite weakness in developed markets

It’s this kind of day in market today

Brave Heart Holds

 

SPX Trade Levels

Key support: 1175
Key resistance: 1304

Profit taking levels: 1362
Stop loss level: 1164

SPX levels to watch:  1215, 1221, 1230, 1242, 1257

SPX Trade Levels

Key support: 1175
Key resistance: 1304

Profit taking levels: 1362
Stop loss level: 1164

SPX levels to watch:  1215, 1221, 1230, 1242, 1257

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