Comments on: Support & Resistance Levels For $SPX & $NDX https://rightsideofthechart.com/support-resistance-levels-for-spx-ndx/ Stock Trading, Investing & Market Analysis Mon, 20 Jun 2016 12:37:02 +0000 hourly 1 https://wordpress.org/?v=7.0 By: rsotc https://rightsideofthechart.com/support-resistance-levels-for-spx-ndx/#comment-1857 Mon, 20 Jun 2016 12:37:02 +0000 http://rightsideofthechart.com/?p=171838#comment-1857 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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