Support is at 1263 for the 200dma. Below that we have the bottom of a channel i'm tracking in the mid 1250's and then round number support at 1250.
Bears want to see a CLOSE under the 200dma as well as a new low, which means a close under 1258 and a close under round number support at 1250 would be pretty nasty.
Resistance, we have the bottom of the bollingers, which we closed back under again at 1273 and then trendline resistance and middle of the bollingers at 1285ish and 1293.
The bears have to have a close under the 200 and they have to have a new low for bad things to happen here. Which means a close under 1258.
Thursday this week is end of the month and end of the quarter so keep that it mind, it is a window dressing time of the year. A break down of the market this week would be particularly bad, because it would really signal panic creeping into the market.
As it has been lately, the Russel and Dow Jones Real Estate are out performing and the S&P is in the most dangerous spot technically. The Russel will need to break down again for the S&P to lose the 200.
Here's the chart for the weekend, just the S&P for now. What the S&P does here will seal the deal on what comes next;
Important week..
GL
CJ
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