Major Support and Earnings Week

The indices have reached major levels of support. The S&P closed less than 3 points lower than it opened at the start of trading this morning, indicating indecision near this support level notated on the chart. The low of the year, on February 24th at 4114.65, is also in play. I will be watching for any indication the 4100-4150 zone will hold through this week of major quarterly earnings announcements. If so, and the momentum shifts back to the upside, we may see a rebound into resistance near 4300 on the S&P.