S&P 500 - March 29, 2011

On March 3, I showed a daily chart of S&P 500 with support/resistance curves.



In the previous post of March 25, I mentioned 1280 as an important area


Let's look at current support/resistance in the context of the daily frame




1280 is an important level of support for the bulls at this point.

From a past price/resistance point of view, like traditional pivots or Point & Figure Prices, levels are static. From an average price point of point of view, levels are dynamic, as average curve up and down


Which is better? There really is no clear winner or loser. It all depends on the context. These are all tools and every tool has its uses and potential abuses.

Sometimes static and dynamic studies complement each other, they point to 1280 area at this point


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