Tuesday, June 12, 2012

Watch for These Key Levels in the 3 Major U.S. Indices

Following up from last week’s post on “Triple Stock Index Key Levels,” let’s take a quick mid-week update on what’s happened and what support levels continue to be key focal points in the “Big Three” US Stock Market Indexes.

Let’s start with the S&P 500:

The prior update focused on the 1,300 support bounce with the 1,275 as a likely target point should 1,300 fail – which was the case.

The resulting sell-off cascaded price towards – and just under – the 1,275 confluence which has served so far as the key if not “Make or Break” support level to watch.

This level stretches back to the polarity swing highs from late 2011, as is the case in the other Indexes (though the Dow Jones broke under these prior highs briefly). (more)

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