OptionsHouse

Options Trading News

September 6, 2012  Thu 12:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
U.S. equity indexes saw modest declines yesterday after more signs of slower growth in Asia and ahead of today's European Central Bank meeting.

The S&P 500 declined for the second straight session, slipping 1.50 points, or 0.11 percent, to 1403.44. The Nasdaq 100 dropped 5.08 points, or 0.18 percent, to 2766.95 after trading as high as 2780.56 off the open.

The Russell 2000 also declined 0.11 percent, or 0.91 points, to close at 821.23. However, the small-cap index did manage to make a new monthly high of 824.88 in the first hour of trading.

S&P 500
Resistance is now 1404, followed by 1406.04, 1408.80, and 1410.
Support is now 1403, followed by 1401.25, 1400, and 1396.56 (Tuesday's low).
Nasdaq 100
Resistance is now 2770.26, followed by 2777, 2780.56 (yesterday's high), and 2786.50.
Support is now 2765, followed by 2760, 2750, and 2744.29 (Tuesday's low).
Russell 2000
Resistance is now 822, followed by 822.50, 824.88 (yesterday's high), and 826.
Support is now 820, followed by 819.26 (yesterday's low), 815, and 812.12.
Share this article with your friends


OptionsHouse

Premium Services

Education & Strategy

Timing the Trade

Both break outs and a break downs need to have a couple things happen before it is considered a confirmed break out or break down by technical definition!  The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

View more education articles »