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.

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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 MA’s 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 MA’s for stocks.

Support and Resistance

DJIA close: 16,639.97


16,736 a May 2014 high
16,740 the mid-Sept 2015 high
16,933 the Sept 2015 high
16,946 a Jun 2014 high
16,970 the Jun 2014 high
17067 the Dec 2014 low


16,670 the Aug 2015 high
16,665 a Aug 2015 high
16,632 the Apr 2014 high
16,621 a Feb 2016 high
16,589 the Dec 2013 high
The 50-Day SMA: 16,585
16,511 the Jan 2016 high
16,506 the Mar 2014 high
16,466 the Jan 2016 high
16,368 the Aug 2014 low
The 20-Day EMA: 16,227


S&P 500 close: 1948.05


1972 the Dec 2014 low
1991 the Jul 2014 high
1995 a Sept 2015 high
2011 a Sept 2015 high
2020 the Sept 2015 high
The 200-Day SMA: 2027


1947 the Feb 2016 high
The 50-Day SMA: 1944
1940 the Jan 2016 high
1913 a Sept 2015 low
1905 the Aug 2014 low
1902 a May 2015 high.


NAS Comp close: 4590.47


4615 the late Aug 2015 low.
The 50-Day EMA: 4618
4620 a Feb 2016 high
4637 the Feb 2016 high
4736 the Jan 2016 lower Gap mark
4751 a Jan 2015 high
4774 the Jan 2015 high


4506 the Aug 2015 low
4485 the Jul 2014 high
4471 the January 2016 closing low
4425 a Feb 2016 low
4363 the Feb 2016 upper Gap mark
4352 the Mar 2014 high

Have a terrific week.

Paul Ebeling





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