The S & P 500 finally sold off closing 11.46 points to the downside, at 2,175.44.
The close was within three points of the 2,171.88 level, which should offer support.
Two closes under 2,171.88 and the S & P 500 should drop to 2,125.
As for the VIX, if it should close today above 13.28, I would expect a move up to 15.63.? This would further confirm more selling pressure for the markets.
Here are the key levels for the markets.
VIX:
Minor level - 17.96
Major level - 15.63
Minor level - 14.85
Minor level - 13.28 *
Major level - 12.50 *
Minor level - 11.72 *
Minor level - 10.15
Major level - 9.38
14.06 should offer resistance and 12.50 should be a support level at this point.
14.84 should be a strong resistance level.
If the VIX closes above 13.28 today, expect a move up to 15.63.
S & P 500 Cash Index:?
Major level - 2,250.00
Minor level - 2,234.38
Minor level - 2,203.12 *
Major level - 2,187.50 **
Minor level - 2,171.88 **
Minor level - 2,140.62
Major level - 2,125.00
Minor level - 2,109.38
Minor level - 2,078.12
Major level - 2,062.50
Minor support should be at 2,171.88 and 2,164.10.
The S & P 500 will still need two closes under 2,171.88 to move down to 2,125.
Nasd 100 (QQQ):?
Major level - 121.88
Minor level - 120.31
Minor level - 119.53
Major level - 118.75 *
Minor level - 117.97 *
Minor level - 116.41
Major level - 115.63
Minor level - 114.85
Minor level - 113.28
Major level - 112.50
A close today under 117.97 and the QQQ should drop to 115.63.
I would expect support at 116.41.
TLT:?
Major level - 143.75
Minor level - 142.96
Minor level - 141.41
Major level - 140.63
Minor level - 139.85
Minor level - 138.28 *
Major level - 137.50
Minor level - 136.72
Major level - 134.38
The TLT continues to trade between the 137.50 and 140.63 levels.
A close today under 139.85 and the TLT should retest 137.50.
GLD:
Major level - 131.25
Minor level - 130.46
Minor level - 128.91 *
Major level - 128.13 *
Minor level - 127.35 *
Minor level - 125.78
Major level - 125.00
Minor level - 124.22
A close today under 127.35 and the GLD should drop to 125.
123.44 should offer strong support.
XLE:
Major level - 75.00
Minor level - 74.22
Minor level - 72.66
Major level - 71.88
Minor level - 71.10
Minor level - 69.53 *
Major level - 68.75 *
Minor level - 67.96
Minor level - 66.41
Major level - 65.63
Minor level - 64.85
The objective should still be up to 71.88.
Minor support should be at 69.53 and 69.14.
Apple:
Major levels for Apple are 112.50, 106.25, 100, 93.75, and 87.50.
Apple closed just under the 108.20 support level yesterday. It closed at 108.03.
109.38 has been resistance for Apple.? If it can clear that level, it should move up to 112.50.
107.81 and 106.25 should offer support.
Watch list:
Bullish Stocks: PCLN, BIIB, NTES, BIDU, FDX, APD, PH, AVGO, AET, UPS, UTX, KSU, FANG, EOG, NSC
Bearish Stocks:? CMG, SBNY, LLY, LPNT, SBUX, AN, LEN, FSLR, SABR, RLGY, SCTY, JBLU
?
Be sure to check earnings release dates.
