Bulls were unable to capitalize of Thursday and Friday’s bounces with initial resistance now noted at 2966.2. Bulls now look for a close above Monday’s high to add support the bullish case and hint at a move back to the DMAs clustered in the 3092.4-3172.8 region. Bears gain confidence the longer 2966.2 caps but the Bollinger band base and O/S daily studies remain key issues and may limit downside follow through.
RES 4: 3106.4 Previous daily support now resistance
RES 3: 3090.4 High Oct 9
RES 2: 3034.9 High Oct 10
RES 1: 2966.2 High Oct 20
PREVIOUS CLOSE: 2927.1
SUP 1: 2903.8 Hourly support Oct 17
SUP 2: 2872.5 Low Oct 17
SUP 3: 2789.6 2014 Low Oct 16
SUP 4: 2748.6 Low Sept 5 2013