The following is Technical Analysis for the S&P 500 ( IXIC ) for 3/30/09S&P 500 Support & Resistance Levels - March 30, 2009
Resistance Levels: 833, 850
Support Levels: 810, 800, 798, 791
http://stockcharts.com/ - Chart
The S&P 500 is showing a top tag from yesterday of 832.98. This area will be a minor resistance level going forward. The downtrend line of the previous highs still extend well above 850 and this is where I feel we will top out at in the short term. The 10 day moving average is crossing the 50 day moving average, this is a bullish signal. Any close below both the 10 and 50 day moving averages from here on out would be bearish. Also, a close below 800 would be bearish as well. If this rally is for real, 800 will hold on a closing basis now that we've spent so much time about it. For More Technical Analysis - Go Here
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