Breaking News

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

Searching For Rich, Safer Dividends? Consider 3 High-Yield Dow Index... By Haris Anwar/Investing.com - Jun 24, 2021

If you are on the hunt to earn higher dividend yields in this low interest-rate environment, you don’t have many choices. After a strong rebound in equity markets since the...

Tech Indices Hold Breakout; Russell 2000 Technicals Edge Bearish By Declan Fallon - Jun 24, 2021

Tuesday's push above resistance for the NASDAQ was retained on Wednesday's tight action. Technicals are net positive and outperforming the Russell 2000, although trading volume...

Chris Vermeulen

Major U.S. Indexes Could Be Setting Up For Excess Phase Peak By Chris Vermeulen - Jun 23, 2021 7

Recently, I published a research article on Bitcoin suggesting there may be a bigger downside price move setting up – breaking support near $30,000 and extending the Excess...

Add a Comment

We encourage you to use comments to engage with 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
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.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. 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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

More Categories

1D1W1M6M1Y5YMax

	US 30 Futures	33,927.5	+168.5	+0.50%
	US 500 Futures	4,253.12	+21.62	+0.51%
	Dow Jones	33,874.24	-71.34	-0.21%
	S&P 500	4,241.84	-4.60	-0.11%
	Nasdaq	14,271.7	+18.5	+0.13%
	S&P 500 VIX	15.39	-0.93	-5.70%
	Dollar Index	91.688	-0.097	-0.11%

	Crude Oil WTI	72.75	-0.33	-0.45%
	Brent Oil	74.88	-0.31	-0.41%
	Natural Gas	3.316	-0.017	-0.51%
	Gold	1,785.55	+2.15	+0.12%
	Silver	26.170	+0.059	+0.23%
	Copper	4.2960	-0.0345	-0.80%
	US Soybeans	1,355.00	-29.00	-2.10%

	SPDR S&P 500	422.60	-0.51	-0.12%
	iShares Russell 2000	228.66	+0.75	+0.33%
	Invesco QQQ Trust	347.74	+0.17	+0.05%
	Direxion Daily Junior Gold Miners Bull 2X Shares	84.57	-1.53	-1.78%
	iShares Silver	23.93	+0.08	+0.34%
	ProShares Ultra VIX Short-Term Futures	29.16	-0.84	-2.80%
	ProShares UltraPro QQQ	115.75	+0.20	+0.17%

	Apple	133.70	-0.28	-0.21%
	Alphabet A	2,442.5	-4.1	-0.17%
	Tesla	656.57	+32.86	+5.27%
	Amazon.com	3,503.8	-1.6	-0.05%
	Netflix	512.74	+3.92	+0.77%
	Facebook	340.59	+1.56	+0.46%
	Bank of America	40.20	+0.23	+0.58%

Most Popular Articles

Stocks grind higher as investors ponder U.S. inflation signals By Reuters - Jun 24, 2021 13

U.S. Initial Jobless Claims Fell Slightly Last Week to 411,000 By Bloomberg - Jun 24, 2021 9

Stress Tests, Jobless Claims, Bank of England - What's Moving Markets By Investing.com - Jun 24, 2021 8

U.S. bans imports of solar panel material from Chinese company By Reuters - Jun 24, 2021 18

Eli Lilly, Accenture Rise Premarket; Beyond Meat Falls By Investing.com - Jun 24, 2021

Bank Stocks Are Getting Cheaper; Time To Buy? By Haris Anwar/Investing.com - Jun 22, 2021 10

Opening Bell: Futures, Stocks Rise As Focus Shifts To Recovery; Oil,... By Pinchas Cohen/Investing.com - Jun 24, 2021 8

Opening Bell: Market Rally Struggles Despite Fed Assurance; Bitcoin... By Pinchas Cohen/Investing.com - Jun 23, 2021 1

3 Hot Stocks Set To Shine As The Summer Vacation Season Kicks Off By Jesse Cohen/Investing.com - Jun 23, 2021 2

Bullish On AMC? Consider A Cash-Secured Put Option By Tezcan Gecgil/Investing.com - Jun 23, 2021 11

Central Banks Rates

	Central Banks		Interest Rates	Next Meeting
		FED	0.00%-0.25%	Jul 28, 2021
		ECB	0.00%	Jul 22, 2021
		BOE	0.10%	Jun 24, 2021
		SNB	-0.75%	Sep 23, 2021
		RBA	0.10%	Jul 06, 2021
		BOC	0.25%	Jul 14, 2021
		RBNZ	0.25%	Jul 14, 2021
		BOJ	-0.10%	Jul 16, 2021
		CBR	5.50%	Jul 23, 2021
		RBI	4.00%	Aug 06, 2021
		PBOC	3.85%
		BCB	4.25%	Aug 04, 2021