Index levels are going to be relatively flat this week folks – don’t fight it. The market is in the process of waiting to digest one big economic release at the end of the week, the Employment Situation Report. But the release falls on a market holiday, Good Friday, and that could make Thursday’s trading more interesting than usual. It could also mean that our tug-of-war between bulls and bears must wait until the following Monday, April 5, barring any major pre-announcements before earnings season.
Nasdaq 100 (NDX)
First support is at 1943.13. First resistance is now at 1964.14.
For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $47.79. First resistance is at $48.30.
S&P 500 (SPX)
First support is now at 1164.2. First resistance is at 1174.72.
For the Standard & Poor’s Depository Receipts (SPY) first support is at $116.61. First resistance is at $117.41.
Russell 2000 (RUT)
First support is now at 672.57. First resistance is now at 686.94.
For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $67.26. First resistance is at $68.88.
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