US Major Markets: Support And Resistance

US Major Markets: Support And Resistance


The concepts of Support and Resistance are 2 of the most discussed attributes of technical analysis, they are often regarded as a subject that is complex by those who are just learning to trade.

Traders refer to price levels on charts that tend to act as barriers from preventing the price of an asset from getting pushed in a certain direction, either North or South.

Most technical traders incorporate the power of various technical indicators, such as MAs (moving averages), to aid in predicting future short-term momentum. A MA is a constantly changing line that smooths out past price data while also allowing the trader to identify Support and Resistance.

The price of the asset (index, stock, commodity, bond) finds support at the MA when the trend is up, and how it acts as Resistance when the trend is down.

Most traders experiment with different time periods in their MAs so that they can find the one that works best for this specific task, the most used are the 10-Day, 20-Day, 50-Day, and 200-Day MAs for stocks.

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Support and Resistance

DJIA close: 17,946.68


17,991 a Dec 2014 high

The 50-Day EMA: 18,000

18,104 the Dec 2014 high

18,206 a Mar 2015 high

18,289 the Mar 2015 high

18,351 the May 2015 high


17,923 the Jan 2015 high

17,748 the mid-Apr 2015 low

17,715 the Jun 2015 low

The 200-Day SMA: 17,675

17, 604 the Mar 2015


S&P 500: Closed at 2101.49


The 50-Day EMA: 2103

2115  a Mar 2015 high

2119.59 a Feb 2015 high

2126 the Apr 2015 high

2135 the May 2015 high


2094 the Dec 2014 high

2076 the Nov 2014 high

2062 a Jan 2015 high

The 200-Day SMA: 2053

2011 the Sept 2014 high


NAS Close: 5080.51


5120 the Apr 2015 high

5132.52 the Mar 2000 all-time high

5206 the upper channel line


The 50-Day EMA: 5046

5042 the Mar 2015 high

5008.57 a March 2015 high

4974 the Jun 2015 4974

4912 a Apr 2015 low

4825 the Mar 2015 low

4815 the Dec 2014 high

4811 the Nov 2014 high

The 200-Day SMA: 4796

4774 the Jan 2014 high


Have a terrific week.

Paul Ebeling


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