The indexes saw yet another virtually flat session yesterday. While the action on the surface may be dull for index traders, there is quite a bit going at the individual-stock level.
Traders will be monitoring reaction to the latest disappointing quarterly report from a big-cap Internet name, this time Amazon.com, which was down sharply after hours. Regardless of whether the market sees more selling or dip buying, the impact could influence trading for the rest of the week.
Levels once again remain virtually unchanged on the cusp of more major economic releases in the next three days. The Nasdaq 100 nudged up a resistance level, but that is likely to change today if overnight futures trading is any indication.
Nasdaq 100 (NDX)
Support is at 2467.46, 2445.59, the October pivot high of 2412.52, and 2389.91. Resistance is at 2477.10 and 2483.58.
S&P 500 (SPX)
Support is at 1305.44 and 1292.66. Resistance is at 1315.94, 1326.05, and 1331.48.
Russell 2000 (RUT)
Support at its 10-day moving average of 789.02 and then at 768.82. Resistance is at 801.71, 807.66, and 814.63.
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