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Support & Resistance Levels For $SPX & $NDX

60-minute charts of the $SPX (S&P 500) and $NDX (Nasdaq 100) with some near-term support & resistance levels which could come into play this week.

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Jun 19, 2016 9:36pm|Categories: Equity Market Analysis|Tags: , , , |1 Comment

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  1. rsotc June 20, 2016 8:37 am at 8:37 am

    As of 8:27am ET, S&P 500 futures are trading at 2085, right at the R1 resistance level with the Nasdaq 100 futures at 4415, shy of the R1 level & right around that 50% Fibonacci retracement line. Looks like an objective area to add or initial short exposure into any of the index tracking instruments like $ES, $NQ, SPY, QQQ, SPXS, SQQQ, etc…, even if only for a day trade/gap fade trade with a stop slightly above the 2085 level preferable after the first 30-60 minutes of trading.

    Russell 2000 first key resistance is 1158 with the Russell e-minis trading at 1157, also a very objective short which probably has the most downside potential, should this gap be faded as I’d expect. Trading vehicles are $TF, IWM, RWM, TWM, TZA, TNA, etc..

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