Learn the trade here. Make it on tradeMONSTER

Options Trading News

October 3, 2011  Mon 12:44 AM CT

NDX: SEE CHART GET CHAIN FIND STRATEGIES
The indexes suffered a dramatic reversal on Friday, sending each down through major support levels. As a result, levels have changed significantly for today, with the exception of the Russell 2000.

For the Nasdaq 100, first support is at 2112.84, then at 2082.04, and 2034.92. First resistance is at 2139.58, then at 2151.18, and 2212.84.

In the case of the S&P 500, support is at 1121.09, then at 1114.52, and 1101.54, the year-to-date low. Resistance is at 1135.91, then at 1150.70, and 1162.01, its 10-day moving average.

The Russell 2000 has support at 634.71, at 624.52, which would be a fresh 52-week low, and then at 611.66. Resistance is at 665.74, its 10-day moving average, then at 701.55. The Russell tends to exhibit greater volatility, so we need to give it more latitude.
Share this article with your friends


TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Swing Trading w/ Ron Ianieri

Education & Strategy

Make your rules, and stick by them!

New traders often act on the recommendations of others or on gut feel. But that is a quick way to...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER