S&P 500 reaches for the 1550 area, levels to watch

theflyonthewall.com

The index is making a modest advance at the moment, constrained largely by inaction rather than action in most of the sectors. The Financials are the upside leaders, with JP Morgan (JPM) and Bank of America (BAC) strong, and the Industrials and Materials sectors are putting in a positive showing. The remaining sectors aren't down, but are not as yet participating either on the up or downside. Resistance is at 1552.50, a prior pivot high. Support is at 1539.79.

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