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S&P 500 – Confluence of key levels around 2100

TVC:SPX   The Standard&Poor's Index
Resistance

2114.7 ( Oct             13 low)
2124.4 ( Oct             17 low)
2131.5 (current month high)

Support

2103-2100 (23.6% of Feb low – Aug high & monthly 10-MA)
2081 (200-DMA)
2047.2 (38.2% of Feb low – Aug high)

Comments – Despite the bearish closing yesterday below 2120 levels, the index is finding support at the confluence of monthly 10-MA and 23.6% Fibo around 2100 levels. Moreover, the monthly 10-MA is still sliding upwards, thus a rebound from the same followed by a break above 2131.5 (monthly high) would open doors for a revisit to 2150-2160 area.

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