Index Levels – Rally Underway

The first big test is whether the indexes can break out and hold above yesterdays highs. If not, the turn will have been nothing more than a quick trip back to upside resistance before the downtrend resumes. The way the futures are holding this morning it could be easy to get and stay above that level.

Nasdaq 100 (NDX)

First support is at 1781.12. First resistance is now at 1839.99.

For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $43.83. First resistance is at $45.28.

S&P 500 (SPX)

First support is now at 1065.79. First resistance is at 1086.02.

For the Standard & Poor’s Depository Receipts (SPY) first support is at $105. First resistance is at $108.94.

Russell 2000 (RUT)

First support is now at 627.92. First resistance is now at 653.

For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $62.81. First resistance is at $65.36.