U.S. equity indexes meandered between positive and negative territory yesterday ahead of today's Fed report and Thursday's release of results the stress tests conducted on 19 major banks.
The S&P 500 managed to pull off a slight gain of 0.02 percent to settle at 1371.09, bringing immediate support to 1370. Below that level, yesterday's low of 1366.69 comes into play. Overhead resistance is now 1373.04, and the next upside level will remain at the index's 2012 high of 1377.76.
The Nasdaq 100 closed yesterday unchanged at 2646.85 despite Oracle's weakness after its downgrade by Jefferies. Promptly after the open, the NDX traded as high as 2651.64 before falling to session lows of 2636.76 as ORCL and Netflix weighed on the index. (See related NFLX story)
The Russell 2000 saw a bit of profit-taking after its gains from Friday. The small-cap index fell 0.33 percent to close at 814.29.
Support is now 1370, then 1366.69 and 1365.
Resistance is now 1373.04 (Friday's high), then 1377.76.
Support is now 2644, then 2636.75 (yesterday's low).Resistance is now 2648.46 followed by 2651.54 (yesterday's high).
Support is now 810, then 806.31 and 803.
Resistance remains at 820, then 821.19 (Friday's high).