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
Naz 100: 2273-2256
Russ 2000: 778-767
Shorter Term Support/Resistance Levels
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
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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