US Major Markets: Support And Resistance

Posted by: : Paul EbelingPosted on: June 8, 2015 US Major Markets: Support And Resistance
 

US Major Markets: Support And Resistance

$SPY, $DIA, $QQQ

The concepts of Support and Resistance are 2 of the most discussed attributes of technical analysis, they are often regarded as a subject that is complex by those who are just learning to trade.

Traders refer to price levels on charts that tend to act as barriers from preventing the price of an asset from getting pushed in a certain direction, either North or South.

Most technical traders incorporate the power of various technical indicators, such as MAs (moving averages), to aid in predicting future short-term momentum. A MA is a constantly changing line that smooths out past price data while also allowing the trader to identify Support and Resistance.

The price of the asset (index, stock, commodity, bond) finds support at the MA when the trend is up, and how it acts as Resistance when the trend is down.

Most traders experiment with different time periods in their MAs so that they can find the one that works best for this specific task, the most used are the 10-Day, 20-Day, 50-Day, and 200-Day MAs for stocks.

Trade in Global Markets with the World’s Leading Platform Open an account here , call us at 305 490 4116, or email us to get started.

Support and Resistance

DJIA close: 17,849.46

Resistance

17,923 a Jan 2015 high

17,991 a Dec 2014 high

The 50-Day EMA: 18,031

18,104 the Dec 2014 high

18,206 a Mar 2015 high

18,289 the Mar 2015 high

18,351 the May 2015 all-time high

Support

17,748 the mid-Apr 2015 low

17,604 the Mar 2015 low

The 200-Day SMA: 17,608

 

S&P 500 close: 2092.83

Resistance

The 50-Day EMA: 2102

2115 a Mar 2015 high

2119.59 the Feb 2015 high

2126 the Apr 2015 high

2135 the May 2015 high

Support

2094 the Dec 2014 high

2079 a Nov 2014 high

2062 a Jan 2015 high

The 200-Day SMA: 2045

 

NAS 100 closed: 5068.46

Resistance

5075 the Jan to Apr 2015 pattern trendline

5120 the Apr 2015 high

5132.52 the Mar 2000 all-time high

Support

5042  the Mar 2015 high

5008 the early Mar 2015 high

The 50-Day EMA: 5010

4912 the mid-Apr 2015 low

4825 the Mar 2015 lows

4815 the Dec 2014 high

4811 the Nov 2014 high

4774 the Jan 2015 high

The 200-Day SMA: 4757

Have a terrific week.

Paul Ebeling

HeffX-LTN

 

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

Trade FX, Equities and Options with the World's Leading Platform Open an account here , call us at 305 4904 116, or email us to get started.

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