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Support inches higher for S&P 500

Posted
12/27/2010 1:03:00 AM
By: optionMONSTER
Referenced Stocks:IWM;QQQ;SPY

The last trading session before Christmas was another day of light volume that saw the indexes little-changed. This time the markets ended fractionally down as opposed to the many slight in recent weeks.

Levels remain largely as they were Thursday morning. One exception is that support has moved up to the 10-day moving average for the S&P 500.

Nasdaq 100 (NDX)

First support is at 2219.79, the 10-day moving average. First resistance is at 2239.23, the 2007 peak.

For the Nasdaq 100 Index Tracking Stock ( QQQQ ) first support is at 54.55. First resistance is at $55.07.

S&P 500 (SPX)

First support is at 1246.18, the 10-day moving average. First resistance is at 1268.66.

For the Standard & Poor's Depository Receipts ( SPY ) first support is at $124.83. First resistance is at $127.36.

Russell 2000 (RUT)

First support is at 770.51. First resistance is at 799.57.

For the iShares Trust Russell 2000 Index Fund ( IWM ) first support is at $77.21. First resistance is at $79.84.