Hello.
The 2nd of January was an excepcional day in the international Stock Markets, due to the agreement on the fical cliff, fact largely know by the market.
Due to the employment numbers the market yesterday stalled a little, but also due to a horizontal resistance, like que one you can see in the image bellow, where the S&P hits the 1.465 points resistance, and it holds.
This can mean that there is an attempt of the market to aliviate its indicators and oscilators, as you also can see on the image bellow, maily the Stochastic, th RSI an the MACD.
What for me is very important is that the 12 day moving average ( blue curve line, with brown segments ) supports the movement, this fact by its own means that the rizing movement started in November is still active, and our stop should accompany this indicator.
So, the S&P has the following important points:
1) Resistance ( nearer ) - 1.465 points
2) Resistance ( next ) - 1.527 points
3) Support ( nearer ) - 1.427 points
4) Support ( next ) - 1405 points
For the Nasdaq we have:
1) Resistance ( nearer ) -3.134 points
2) Support ( nearer ) - 3.055 points
And finally for the Dow Jones, we have the following:
1) Resistance ( nearer ) - 13.600 points
2) Support ( nearer ) 13.280 points
Keep this lines under notice, if you want to trade the long or short, because they will give the market important decision points that can be used.