Important Support and Resistance Points for S&P 500, NASDAQ and Russell 2000
March 31, 2011 12:37 pm
The “make it or break it” points for major indicies can provide vital information for investors looking to get buy, sell or short a market. More importantly, it can help to see what the trend is showing and this often will be the direction for many stocks.
It has been said that something like 80% of individual issues follow the trend of the overall markets. More recently, that percentage will probably be higher as the use of ETFs and futures contracts have become more popular.
Take a look at the latest update of these trends. HERE is the same chart of the S&P 500 from 3/14/2011.
** Notice that the S&P 500 and the NASDAQ have not confirmed the longer term breakout….[ipaper id=52001118] [ipaper id=52001088] [ipaper id=52001177]