Breaking News

Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here

Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

What Are The Major Indices' Support And Resistance Levels Telling Us?

By Michele SchneiderStock MarketsMay 02, 2021 04:23AM ET

www.investing.com/analysis/what-are-the-major-indices-support-and-resistance-levels-telling-us-200576918

What Are The Major Indices' Support And Resistance Levels Telling Us?

By Michele Schneider | May 02, 2021 04:23AM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

Last Thursday the S&P 500's SPDR® S&P 500 (NYSE:SPY) and the NASDAQ's Invesco QQQ Trust (NASDAQ:QQQ) tested new highs and then gapped lower on Friday showing that the market still had some overhead resistance.

Driving reasons could be related to fears of inflation raising as the U.S. pushes to take on more debt, to caution from pending earnings as Monday starts another round of incoming reports.

Additionally, the Russell 2000's iShares Russell 2000 ETF (NYSE:IWM) pulled off and could be looking for another revisit of its 50-Day moving average at $223.28.

IWM-DIA-QQQ-SPY Charts

IWM-DIA-QQQ-SPY Charts

With that said, we can also factor in the major indices' current price range.

In the above charts, each has a range created by their recent highs, lows, or in the case of IWM, support from 50-DMA.

This can give us clear support and resistance levels to reference and trade-off this week.

Also, when it comes to using these price levels to determine a potential breakout or breakdown in the market it can help to watch if the indices are pushing through the price levels at the same time.

This can help with fake breakouts or breakdowns like we saw last week in SPY and the QQQs.

ETF Summary

S&P 500 (SPY) 10-DMA at 416.24 pivotal.
Russell 2000 (IWM) Next support the 50-DMA at 223.26.
Dow (DIA) 336.75 support.
NASDAQ (QQQ) 333.97 support.
KRE (Regional Banks) Support 67.22.
SMH (Semiconductors) 242.29 support the 50-DMA.
IYT (Transportation) Closest support the 10-DMA at 265.98.
IBB (Biotechnology) 153.51 pivotal.
XRT (Retail) Like this to hold over the 10-DMA at 92.41.
Volatility Index (VXX) Closed over the 10-DMA at 40.00.
Junk Bonds (JNK) Like to see this hold over 109.08.
XLU (Utilities) Back over the 10-DMA at 66.54.
SLV (Silver) 24.01 pivotal.
VBK (Small Cap Growth ETF) Next support 280 area.
VBK (US Gas Fund) Doji day.
TLT (iShares 20+ Year Treasuries) Flirting with the 50-DMA at 138.45.
USD (Dollar) Large range day back over the 10-DMA at 90.98.
MJ (Alternative Harvest ETF) Like to see this stay over the 10-DMA at 21.12.
LIT (Lithium) Holding the 10-DMA at 62.85.
XOP (Oil and Gas Exploration) Could not hold over the 50-DMA at 81.88.
DBA (Agriculture) Bounced off the 10-DMA at 18.16.

Related Articles

Haris Anwar/Investing.com

3 Safe Dividend Stocks To Weather Current Market Turmoil By Haris Anwar/Investing.com - Jul 07, 2022 3

This year's market rout is forcing investors to seek refuge in stocks that pay steady dividends Defensive stocks are most likely to withstand any fallout from rising interest rates...

Kohl's Hopes Appear Dashed By Vince Martin - Jul 07, 2022

This article was written exclusively for Investing.comIt seems incredibly easy to make the case for Kohl's Corporation (NYSE:KSS) stock at the moment. Relative to trailing...

Dr. Arnout ter Schure

Rare Long-Term Buy Signal For S&P 500: Can We Trust It? By Dr. Arnout ter Schure - Jul 06, 2022 23

One must be living under a rock not to know the major stock indexes have been declining almost relentlessly during the first half of this year. I found that these indexes may be in...

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

Write your thoughts here

Are you sure you want to delete this chart?

Post also to:

Replace the attached chart with a new chart ?

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
		</div>
    </div>
			</div>
			<div id="show-more-comments">
				<a class="showMoreComments block">
					<span class="arial_12 showArrowafter">Show more comments (<span class="js-amount"></span>)</span>
				</a>
			</div>
			<div id="show-more-replies">
				<a class="showMoreReplies block">
					<span class="arial_12 showArrowafter">Show more replies (<span class="js-amount"></span>)</span>
				</a>
			</div>

Are you sure you want to delete this chart?

Replace the attached chart with a new chart ?

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Thank You!

Your report has been sent to our moderators for review

More Categories

1D1W1M6M1Y5YMax

	US 30	31,286.6	+248.9	+0.80%
	US 500	3,892.8	+47.7	+1.24%
	Dow Jones	31,284.96	+247.28	+0.80%
	S&P 500	3,893.10	+48.02	+1.25%
	Nasdaq	11,593.78	+231.93	+2.04%
	S&P 500 VIX	25.90	-0.83	-3.11%
	Dollar Index	106.980	+0.082	+0.08%

	Crude Oil WTI	103.42	+4.89	+4.96%
	Brent Oil	105.28	+4.59	+4.56%
	Natural Gas	6.204	+0.694	+12.60%
	Gold	1,738.75	+2.25	+0.13%
	Silver	19.177	+0.018	+0.09%
	Copper	3.5560	+0.1480	+4.34%
	US Soybeans	1,489.25	+43.25	+2.99%

	SPDR S&P 500	388.04	+4.79	+1.25%
	iShares Russell 2000	175.73	+4.18	+2.44%
	Invesco QQQ Trust	294.15	+5.35	+1.85%
	Direxion Daily Junior Gold Miners Bull 2X Shares	31.42	+0.93	+3.05%
	iShares Silver	17.73	+0.04	+0.25%
	ProShares Ultra VIX Short-Term Futures	13.31	-0.34	-2.45%
	ProShares UltraPro QQQ	27.57	+1.43	+5.47%

	Apple	146.19	+3.27	+2.28%
	Alphabet A	2,363.09	+71.65	+3.13%
	Tesla	733.03	+37.83	+5.44%
	Amazon.com	116.19	+1.86	+1.63%
	Netflix	189.14	+5.08	+2.76%
	Meta Platforms	171.70	+1.93	+1.14%
	Bank of America	31.77	+0.79	+2.53%

Most Popular Articles

Wall Street rises as traders temper bets on aggressive rate hikes By Reuters - Jul 07, 2022 23

Boris Johnson quits as UK prime minister, dragged down by scandals By Reuters - Jul 07, 2022 32

U.S. Stocks Bounce as Investors Take in Fed's Rate Outlook By Investing.com - Jul 07, 2022 23

Oil up $5 as tight supply outweighs recession fears By Reuters - Jul 07, 2022 8

Labor Market Data, Johnson Quits, China Stimulus Plan - What's Moving... By Investing.com - Jul 07, 2022 9

Opening Bell: Easing Inflation Fears Boost U.S. Futures; Weigh On... By Pinchas Cohen/Investing.com - Jul 07, 2022 5

Oil: Possible Global Recession And Its Effect On Demand Is Key By Ellen R. Wald, Ph.D. - Jul 07, 2022 22

Oil: Forget Year-End Forecast Of $65; Will We Get To $85 Soon? By Barani Krishnan/Investing.com - Jul 06, 2022 24

Natural Gas: Sweltering America Can’t Burn Enough Of Freeport’s Idled... By Barani Krishnan/Investing.com - Jul 07, 2022 23

Is Airbnb Stock A Bargain After Recent 44% Plunge? By Haris Anwar/Investing.com - Jul 06, 2022 3

Central Banks Rates

	Central Banks		Interest Rates	Next Meeting
		FED	1.75%	Jul 27, 2022
		ECB	0.00%	Jul 21, 2022
		BOE	1.25%	Aug 04, 2022
		SNB	-0.25%	Sep 22, 2022
		RBA	1.35%	Aug 02, 2022
		BOC	1.50%	Jul 13, 2022
		RBNZ	2.00%	Jul 13, 2022
		BOJ	-0.10%	Jul 21, 2022
		CBR	9.50%	Jul 22, 2022
		RBI	4.90%	Aug 04, 2022
		PBOC	3.70%
		BCB	13.25%	Aug 03, 2022