Why S&P 500 1,300 is important, until it fails…

The simple reason why SPX 1300 is important is because that's where we bounced from today.  Two more things I'd like to point out however, that give 1300 a little more resiliency. One, 1300 served as resistance in mid March and two, it's also between the 38.2% and the 50% Fibonacci retracement level.

Levels To Watch On SPX, RUT, IYT

Good Morning Again! Here are the levels I am watching on the S&P500, the Russell 2000, and the Dow Transports ETF (IYT). SPX Support: 1320, 50 day moving average (yellow line), 1310, 1300.   SPX Resistance: 1340, 1345.   I still see a potential final SPX upside target somewhere between 1380 and 1450. RUT Support: […]