Stiff selling on Friday resulted in the stock market's worst weekly loss since January and marked a weak finish to April. Still, the stock market was able to book its third straight monthly gain. Stocks tumbled Friday after reports that Goldman Sachs is facing a criminal probe sparked analyst downgrades and a selloff in the financial sector. Worries about Greece's lingering debt problems also weighed.Support for the SPX remains at 1187 and then 1176, with resistance at 1222 and then 1240. Short term momentum was quite oversold at the close.Support level is 1175 and 1168. I will be watch 1150 level in bullish side.
FOR 05/03 SPX resistance , pivot &, support
Resistance R3 1229.66, R2 1215.33, R1 1201.01
Pivot Point 1193.66
Support S1 1179.34, 1171.99, S3 1157.67
FOR Weekly 05/03-05/07 SPX resistance , pivot &, support
Resistance R3 1257.98, R2 1234.21, R1 1210.45
Pivot Point 1196.03
Support S1 1172.27, S2 1157.85, S3 1134.09
FOR Monthly 05/03-05/31 SPX resistance , pivot &, support
Resistance R3 1268.91, R2 1241.50, R1 1214.09
Pivot Point 1192.39
Support S1 1164.98, S2 1143.28, S3 1115.87
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