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  • Will You Add? - SPX Support & Resistance Levels

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    . SPX has generally held 1,250 for over three-months, in part, because 1,246 is a multi-year Fibonacci level.

    The NYSE Oscillator (NYMO below) closed below negative 11, which suggests the

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    The VIX 200-day MA fell further last week and closed at 12.40 Fri. The multi-decade low was 12.29 in mid-Feb '94 during a 9.7% SPX correction over 60 calendar days from early-Feb to late-Mar. The 9.7% SPX pullback followed the longest period in history, i.e. 3 1/2 years, without over a 9% SPX correction. Currently, SPX is in the second longest period in history without a 9% or more pullback, i.e. over three years.

    Last week, VIX continued to stay below the 200-day MA and closed at 11.96 Fri (see chart below). Also, the price chart shows SPX continued to trade in the upper half of the daily Bollinger Band, i.e. above the 20-day MA, currently at 1,278 1/2. A break below the 20-day MA may cause SPX to fall quickly to the lower Bollinger Band, currently at 1,254 1/4. SPX has generally held 1,250 for over three-months, in part, because 1,246 is a multi-year Fibonacci level.

    The NYSE Oscillator (NYMO below) closed below negative 11, which suggests the f

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    e 9.7% SPX pullback followed the longest period in history, i.e. 3 1/2 years, without over a 9% SPX correction. Currently, SPX is in the second longest period in history without a 9% or more pullback, i.e. over three years.

    Last week, VIX continued to stay below the 200-day MA and closed at 11.96 Fri (see chart below). Also, the price chart shows SPX continued to trade in the upper half of the daily Bollinger Band, i.e. above the 20-day MA, currently at 1,278 1/2. A break below the 20-day MA may cause SPX to fall quickly to the lower Bollinger Band, currently at 1,254 1/4. SPX has generally held 1,250 for over three-months, in part, because 1,246 is a multi-year Fibonacci level.

    The NYSE Oscillator (NYMO below) closed below negative 11, which suggests the

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    back, i.e. over three years.

    Last week, VIX continued to stay below the 200-day MA and closed at 11.96 Fri (see chart below). Also, the price chart shows SPX continued to trade in the upper half of the daily Bollinger Band, i.e. above the 20-day MA, currently at 1,278 1/2. A break below the 20-day MA may cause SPX to fall quickly to the lower Bollinger Band, currently at 1,254 1/4. SPX has generally held 1,250 for over three-months, in part, because 1,246 is a multi-year Fibonacci level.

    The NYSE Oscillator (NYMO below) closed below negative 11, which suggests the

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    r half of the daily Bollinger Band, i.e. above the 20-day MA, currently at 1,278 1/2. A break below the 20-day MA may cause SPX to fall quickly to the lower Bollinger Band, currently at 1,254 1/4. SPX has generally held 1,250 for over three-months, in part, because 1,246 is a multi-year Fibonacci level.

    The NYSE Oscillator (NYMO below) closed below negative 11, which suggests the

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    . SPX has generally held 1,250 for over three-months, in part, because 1,246 is a multi-year Fibonacci level.

    The NYSE Oscillator (NYMO below) closed below negative 11, which suggests the first pullback will be limited, perhaps to around 1,260. SPX may then make another attempt to break 1,300, although 1,275, which has been a key level, and the 20 & 50 day MAs, which are rising toward 1,280, may turn back another rally attempt. It's uncertain how swiftly or slowly the potential pullback will take place. However, the bulk of the move could be on a few big down days or on a grinding downtrend over a few weeks, although, the week of Mar triple-witching expirations typically have slight upward biases.

    There's a slim possibility that SPX will rise to the five-year high at 1,316 from current levels. However, both fundamental and technical data make it unlikely. More newsletter advisors are suggesting taking profits, the FOMC meeting is Mar 28th, the meg

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