By Bryan McCormick
The markets reversed higher after dovish comments from Federal Reserve Chairman Ben Bernanke on Friday morning. Capping a week that had very nearly the same range, the move higher leaves the major indexes with a shot of the mid-point values of the multi-month range. That would be 1805 for the Nasdaq 100, 1080 for the S&P 500, and 620 for the Russell 2000. All but the Nasdaq 100 has fresh resistance values for Monday at those mid-points.
Nasdaq 100 (NDX)
- First support is at 1765.36. First resistance is at 1793.43.
- For the NASDAQ 100 Index Tracking Stock (QQQQ) first support is at $43.46. First resistance is at $44.12.
S&P 500 (SPX)
- First support is at 1046.68. First resistance is at 1080.
- For the Standard and Poor's Depository Receipts (SPY) first support is at $104.97. First resistance is at $108.
Russell 2000 (RUT)
- First support is at 588.58. First major resistance is at 620.
- For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $58.88. First resistance is at $62.
Disclosure: No positions