S&P 500 breaks below 1460 heading toward the close, levels to watch

January 3, 2013

The index is nearing the lows of the session as the end of regular trading approaches. At the current level of 1458.13, next support is at 1454.22. Resistance is at 1462.43. In terms of sectors, Technology and Materials are the leaders on the downside. With retailers weak, Consumer Staples are also on the downside. Leadership on the upside is in Consumer Discretionary, Industrials, and Energy.