SPX Key Market Report and Commentary for Tuesday 25/01/2011

Commentary Daily chart SPX500 EOD - Swing trader

Above 1268 trend remain bullish target range [1297,1324] possible top next months. If 1297 is the top need confirmation with a close daily below 1268.

Daily close above 1297 next area 1310 possible extension 1324.

Daily close below 1268 next area 1235 possible extension 1220.

Area Daily chart - Position

Suport - 1220, 1235, 1268 and 1278;

Resistance – 1297, 1310, 1324, 1350;

Commentary 60 minutes chart SPX500 EOD - Day trader

Close below 1278 win momentum downside first target 1272 possible extension 1268.

Close above 1290 win momentum upside first target 1297

Area 60 minutes Chart – Daytrading

Suport - 1272,1278 and 1282

Resistance – 1290 and 1297

Click to zoom in.

Economic Data/Events week 24-28 /01
Tuesday
 Economic week with Case-Shiller, the FHFA housing index and Consumer confidence.
tuesday/wednesday - FED meets
Wednesday
 New home sales
2:00 FED with a statement.
Thursday
Weekly Jobless claims
Durable goods and Pending home sales.
Friday
Q4 GDP est. at +3.8% and Consumer confidence.

SPX Key Market Report and Commentary for Tuesday 25/01/2011