S&P 500 Large Cap Index ( SPX ) and S&P 500 SPDRs ( SPY )

The S&P 500 Large Cap Index ( NYSE:$SPX ) and the ETF S&P 500 SPDRs (NYSE: SPY) continued to test new resistances in search of the Top of this Bear Market Rally. In the last session the Index stopped dead at the Fibonacci level 1125.6 . The high of 1125.64 was reached early in the session [ @ 11:07 AM ] . While the Index reached a1125.64 it was essentially stopped at the F0.5 level of 1121.4 . After reaching the high the Index dropped back below 1121 and from there it was essentially downhill with the Index eventually closing at 1118.79 .

The Top for this last up leg may have been established but there still may be some "time killing" before the real correction gets underway. In the next session the immediate Resistance and Support levels are 1121.12 and 1116.29 & 1110.51 respectively.

For the S&P 500 SPDRs ( SPY ) ETF the resistance and Support levels are 112.84 and 111.89 respectively.

The complete Resistance and Support data for the Index and the ETF is given below.

S&P 500 Large Cap Index ( $SPX )

Resistance and Support Levels

• R4- 1147.52
• R3- 1138.46
• R2- 1129.40
• F- 1129.00
• F- 1127.6
• F- 1125.6
• R1- 1124.09
• F- 1121.72

• DC- 1118.79

• F- 1117.17
• F- 1116.29
• S1- 1115.03
• S2- 1111.28
• F- 1110.51
• S3- 1102.22
• F- 1101.15
• S4- 1093.16

S&P 500 SPDRs ( SPY )

Resistance and Support Levels

• R4- 115.28
• R3- 114.33
• R2- 113.38
• R1- 112.84

• DC- 112.30

• S1- 111.89
• S2- 111.48
• S3- 110.53
• S4- 109.58