Support and Resistance - 5th week January 2007

Every weekend I will give you the support and resistance levels and how strong they are of the folowing Indices…
QQQQ, SPX, OEX, the Dow (DJ30), and the Russell (RUT)
This will help you in trading decisions of where to be looking to place your trades.

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I removed SPY from my list since it pretty much follows the SPX and added RUT instead. This will become evident when we start discussing another way of trading credit spreads and iron condors. The Russell will be a good choice for this other way of trading.

Most of the indices are sitting right on support to start the week.

QQQQ - Support = 43.5 (43 stronger) / Resistance = 44.50 (45.50 stronger)
SPX - Support = 1420 (1400 stronger)  /  Resistance = 1440
OEX - Support = 660 (655  stronger) /   Resistance = 675 strong
DJ30 - Support = 12450 weak, stronger at 12350  /  Resistance = 12600 (12700 stronger)
RUT - Support = 780 (770 next level down) / Resistance = 795

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