Choppy sideways trading within the recent 3150.6-3211.5 range continued Thursday. Bears continue to look for a close below 3150.6 to confirm immediate focus on the 3121.0-3129.1 region with a break below the 200-DMA adding weight to the bearish case. It should be noted a close below the 200-DMA was last seen in July 2013. Bulls continue to look for a close above 3211.5 to confirm an easing of bearish pressure
RES 4: 3251.8 Falling daily channel top
RES 3: 3229.7 21-DMA
RES 2: 3228.1 55-DMA
RES 1: 3211.5 Monthly low June 30 now resistance
PREVIOUS CLOSE: 3157.7
SUP 1: 3150.6 Low July 15
SUP 2: 3129.1 Monthly Low May 7
SUP 3: 3121.0 200-DMA
SUP 4: 3106.7 61.8% Fibonacci 2971.5-3325.5