The SP500 printed an NR7 spinning top with the low of the day less than a point below the 2079.11 support level. It did manage to close above this support level for four consecutive days. It closed at 2083.39 with a small loss of -2.66 or -0.13%. The near term potential support and resistance remain to be 2108.86 and 2079.11 respectively.
SPX
(click the chart to enlarge)
The SPY closed at or above 207.95 for five consecutive trading sessions. It printed a doji spinning top indicating indecision from the market participants. Today’s low came within six cents to the support level of 207.95. The SPY closed at 208.66 with a loss of -0.26 or -0.12%. The potential resistance levels remain to be 211.63 and 211.99. The potential support levels are 207.95 and 206.26.
SPY
The Nasdaq 100 closed at 4519.32 with a loss of -8.87 or -0.20%. Major potential resistance remains to be the 7/22/15 price gap and the near term potential resistance is 4562.33. The potential support levels are 4506.19 and 4434.11.
NDX
The Russell 2000 closed at 1204.74, 0.45 below the ‘H’ pattern baseline of 1205.19. It closed with a loss of -4.24 or -0.35%. The potential resistance levels are 1215.42 and 1238.76, and the potential support continues to be the 2/2/15 price gap between 1180.06 and 1175.51.
RUT
The market near term bias is toward the downside. Until the trend has reversed to the upside, one should continue to be cautious.
