Updated Auction Market Analysis and Market Profile Trading Levels for the Week

We have consistently pointed out the path of least resistance is definitively up in the US Stock Indices. The market itself will give us an objective signal when the bull trend may be over.

Below are weekly cash charts of the four primary trading indices and their respective critical downside Key Reference Areas (potential support). As long as these areas are not broken, the trend is up in the intermediate term time frame.

Intermediate Term Support Levels

S&P: 1277-1262

Dow: 11818-11745

Naz 100: 2273-2256

Russ 2000: 778-767

Shorter Term Support/Resistance Levels

Support/Resistance:

S&P cash: Support; 1294,1270-1277, 1261-1254, 1245-1239, 1227-1219, 1189-1171

March S&P mini: Support; 1298, 129150

Naz 100 cash: Support; 2305-2296

March Naz mini: Support; 231650, 229575

Russ 2000 cash: Support; 771-761: Resistance; 804-810

March Russ mini: Support; 79240, 786
Resistance; 80150

Dow cash: Support: 11981, 11803

March Dow mini: Support; 11980,11933

Tom Alexander is an expert in Market Profile. You can learn more at Alexander Trading.

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