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Strategists eyeball these S&P 500levelsJanuary 31, 2014, 9:21 AM

Looks like someone got out last night…naughty bear. 8:40 AM - 31 Jan 2014

Rachel @Sassy_SPY

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Markets are flowing downstream like a fast-moving river, as investors look set tofinish an ugly January with even more losses, after that sunshine session onThursday.

Strategists have been keeping a close eye on some major support levels for theS&P 500 , with 1,775 and 1,770 both being batted around as levels to

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View AllLatest NewsBREAKINGConsumer sentiment declines in January: reportsTwitter buys over 900 patents from IBMConsumer sentiment falls to 81.2 in Jan.: reportsStock market live blog: Worst Jan. since 2010;earnings disappoint; Wal-Mart warnsConsumer spending up sharply in DecemberWill unwieldy name doom Obama’s myRA plan?Consumer spending ramps up, housing faltersBREAKINGChicago PMI drops 1.2 points to 59.6 in JanuaryDollar holds slight gains after PMI slipsUse this trick to save on car insuranceWant the American dream? Move to these 10 citiesAmazon's losses lead broad tech-sector decline5 reasons why mobile ads will break out this yearDow drops 210 to 15,640.10Treasurys hold gains after PMI dropChicago PMI falls to 59.6 in January from 60.8ECB Coeure: More tools to fight too-low inflationBREAKINGU.S. stocks open lower; Dow in triple-digit slideNasdaq Composite drops 49 points to 4,074S&P 500 down 16 points at 1,778Dow falls 171 points to 15,679BREAKINGStocks open broadly lowerA football-friendly brew for Super Bowl Sunday10 things bars won’t tell youChevron profit drops 32% on lower productionTreasurys set for best month since 2012 after dataStrategists eyeball these S&P 500 levelsRetirees' mortgages can outweigh tax breaksMattel, Amazon lead slide in U.S. stock futuresZynga, Chipotle jump; Amazon, Mattel slide

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View AllLatest NewsTwitter acquires more than 900 patents from IBMObama meets with CEOs on long-term jobless, andmore must-readsEarnings add to January stock lossesBREAKINGConsumer sentiment declines in January: reportsTwitter buys over 900 patents from IBMConsumer sentiment falls to 81.2 in Jan.: reportsStock market live blog: Worst Jan. since 2010;earnings disappoint; Wal-Mart warnsConsumer spending up sharply in DecemberWill unwieldy name doom Obama’s myRA plan?Consumer spending ramps up, housing faltersBREAKINGChicago PMI drops 1.2 points to 59.6 in JanuaryDollar holds slight gains after PMI slipsUse this trick to save on car insuranceWant the American dream? Move to these 10 citiesAmazon's losses lead broad tech-sector decline5 reasons why mobile ads will break out this yearDow drops 210 to 15,640.10Treasurys hold gains after PMI dropChicago PMI falls to 59.6 in January from 60.8ECB Coeure: More tools to fight too-low inflationBREAKINGU.S. stocks open lower; Dow in triple-digit slideNasdaq Composite drops 49 points to 4,074S&P 500 down 16 points at 1,778Dow falls 171 points to 15,679BREAKINGStocks open broadly lowerA football-friendly brew for Super Bowl Sunday10 things bars won’t tell youChevron profit drops 32% on lower productionTreasurys set for best month since 2012 after dataStrategists eyeball these S&P 500 levelsRetirees' mortgages can outweigh tax breaksMattel, Amazon lead slide in U.S. stock futuresZynga, Chipotle jump; Amazon, Mattel slideBREAKINGConsumer sentiment declines in January: reportsTwitter buys over 900 patents from IBMConsumer sentiment falls to 81.2 in Jan.: reportsStock market live blog: Worst Jan. since 2010;earnings disappoint; Wal-Mart warnsConsumer spending up sharply in DecemberWill unwieldy name doom Obama’s myRA plan?Consumer spending ramps up, housing faltersBREAKINGChicago PMI drops 1.2 points to 59.6 in JanuaryDollar holds slight gains after PMI slipsUse this trick to save on car insuranceWant the American dream? Move to these 10 citiesAmazon's losses lead broad tech-sector decline5 reasons why mobile ads will break out this yearDow drops 210 to 15,640.10Treasurys hold gains after PMI dropChicago PMI falls to 59.6 in January from 60.8

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watch. But if stock futures are any indication as to how the day is going to progress,you can kiss those goodbye.

Over at SpreadEx, Max Cohen said the S&P 500 is nearing its 150-day movingaverage, “a significant technical resistance barrier.

Here’s what Sarhan Capital’s Adam Sarhan had to say to clients this week:

Here’s T3 Live’s Scott Redler weighing in on Friday morning:

It’s a lot of tech talk, but basically strategists are laying out the ground work for amessy Friday, unless things turn around, with a warning from Wal-Mart and some ugly numbers from Mattel and Amazon.com ,among others.

Bears if you want this market lower it is yours for the taking. Bulls this is healthy for resetting and opportunity down the road. Chop chop8:43 AM - 31 Jan 2014

Sunrise Trader @SunriseTrader

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But some see light. J.P. Morgan’s chief U.S. equity strategist, Tom Lee, told CNBCon Friday that 2014 is going to turn into a solid year, and markets are “within acouple of percent of the bottom.”

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“Currently trading at 1,764.6, the 150-day moving average is still some 33points away at 1,732.2. Having already smashed through the 20 and the 50-moving day average in the past three weeks, there is nothing to say we won’tgo lower. However, with it being earnings season, a string of good companyperformances could turn the tide.”

“The S&P 500′s next level of support is 1,767-1,772 (Dec. and Jan. lows)then 1,729 (Sept.’s high & its 150 daily-moving average). Meanwhile, the nextareas of resistance: 1,776 and then 1,812 (50 daily-moving-average line). Ofcourse, if support is breached — expect much lower prices to follow.”

“Starting the year, we had three trends to trade. Sellers were able to breakthe accelerated trend at SPX 1,813-1,830ish. That was the first spot toreduce risk or change your process. Now the sellers will have their chance tobreak the intermediate trend at SPX 1,766-1,772 — if that’s your time frame,then you honor that level. A break or close below that level — then the 150-day can come into play in coming weeks at 1,733 and the 200-day under thatis 1,705. Know what you can handle.”

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2 minutes agoandrew the great

The Banking HOUSES of EUROPE control the FED......Warburgs, Rothschilds, andtheir agents Goldman, Sachs, Morgan familes..........the EMPIRE will put on theirshow this weekend......don't you worry........we have your backs..we really do........Wethe people of the LIGHT and our light bearer CULT have your backs up to the pointwe once again give the WEAK a slaughtering and merciful SHEPHERD...........it'scalled Mercy Killings.......

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1 minute agoMy Ballpoint Pen

4 minutes agoStan Little

Reminds me of a 20 year Bernie Madoff chart before...

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4 minutes agoBill H Illify

I do like the HMY chart...

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5 minutes agoJuan Alvarez

OMG, the S&P is down is 4% from all time highs someone please get those October1929 charts so we can analyze even more meaningless data!

A drop to the 1,670-1,700 range is well expected and healthy.

It's great watching all the weak hands sell, always is.

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5 minutes agoConti Winti

There will be no bounce today. It will get worse. Maybe S&P to fall below 1750 todayat close.

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4 minutes agoHams J

@Conti Winti

Very likely to end below 1750 today considering weekly charts...

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5 minutes agoSafvan Malik

Market opinions with onions and onions with market opinions.

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4 minutes agoMy Ballpoint Pen

@Safvan Malik Help Wanted: Short Order Cook w/experience.

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6 minutes agoKathy Lee

Don't worry, there will not be a decline past key support, the market knows Yellen willprint more.

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7 minutes agoErnest Terry

Don't forget there are still a lot of bulls looking for NEST and MYRA stocks to buyblindly out there. They are looking for any excuse to put in a buy order and that willhold us around 1770 to close out the month. However the smart money has beenselling over the last couple of weeks. I hit the panic button the first week of the monthand I keep fighting the urge to "buy the dip".

More dip to come as the big boys sell orders out paces the blind bulls buy orders.

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4 minutes agoralph leo

@Ernest Terry This market has a long way to go downward from here beforeany smart money is buying. Qe is winding down and earnings are not good , andwages are stagnant...so how are stocks going to rise from here? China isimploding and em's are crashed. I would not want to get in front of this train...

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3 minutes agoMy Ballpoint Pen

@ralph leo @Ernest Terry Waiting for Superman.

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14 minutes agoGlenn Cheswick

VIX at 18.75 testing the Monday high of 18.99

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16 minutes agoBill Coppy

sell your mother to short this. thank you later when you buy her back with 100 foldgain

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15 minutes agoMy Ballpoint Pen

@Bill Coppy could you explain where the 100x gain will come from? Justinterested in your trading strategy...

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7 minutes agoVinc Hale

mother in law would be better, although 100 x mother in laws later might be aproblem.

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6 minutes agoMy Ballpoint Pen

@Vinc Hale or short your wife on margin and get 100 x wives back...mightbe interesting if nothing else.

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17 minutes agoGlenn Cheswick

If you look at the weekly chart you can see how the bears are struggling to get theSPX below 1770 level 3 times this week. Expect several more tests of that level nextweek, but if they fail, this correction ends at 6% and probably pressures new highs byMarch/April.

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14 minutes agoBill H Illify

@Glenn Cheswick

I am expecting a bounce here.....about time to buy...

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13 minutes agoGlenn Cheswick

@Bill H Illify @Glenn Cheswick Lot's of good yield stocks on sales here.

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6 minutes agoVinc Hale

And what's the hurry ... surely aim is to buy at the cheapest price possible

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1 minute agoMy Ballpoint Pen

@Vinc Hale No hurry. And please don't call me "surely".

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17 minutes agoMy Ballpoint Pen

No need to worry. The solution to this crisis is close at hand. Introducing the new,improved, revolutionary: myRA!!!

Just visit your local vote panderer to participate.

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15 minutes agoMark Excaliguy

My ex wife was Myra. And she took over half of everything...

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14 minutes agoMy Ballpoint Pen

@Mark Excaliguy Maybe we need an elvIRA. Cue the Oak Ridge Boys.

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6 minutes agoBill H Illify

@My Ballpoint Pen

heh heh...giddy-up...

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18 minutes agoBill H Illify

Actually MTW is keeping me just in the green today....

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18 minutes agoMark Excaliguy

Ten minutes, -22pts and bye bye 1775.

♫GOODNESS GRACIOUS, GREAT BALLS OF FIRE♫

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19 minutes agoMark Martin

"Meanwhile, the next areas of resistance: 1,776 and then 1,812..." Gee - aDeclaration of Independence and a European War - how fitting are those numbers! ;-)))))

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16 minutes agoMy Ballpoint Pen

@Mark Martin nice

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21 minutes agoSven Svensson

Just wait until "the bulls" come back

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21 minutes agoHams J

As said couple of hours ago, today will the worst day for Bulls in months!!! Bulls, youbetter hedge with S&P OTM puts to minimize your losses...This is the sincere advicefrom my end and was repeating the same all these days...

Market gonna fall big beyond one's imaginations..

Short on every rise with 1800 (spot) as SL

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21 minutes agoPopa Ionut

Guys guys this is perfectly normal. There is nothing to be fearful even if it erases evenmore. Im sure that Federal Reserve has all resources at hand to keep it afloat andpush it forward.

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22 minutes agoMy Ballpoint Pen

I think this one is gonna leave a mark.

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23 minutes agoMike Mitchell

it broke through it's 133.3 day average. What are we going to do?

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22 minutes agoBill H Illify

@Mike Mitchell

keep an eye on the 141.000934 day average..

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22 minutes agoMy Ballpoint Pen

@Mike Mitchell do what everyone else is doing - panic!

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24 minutes agoMickey Mackel

If sellers can't clearly break 1775 with power, I imagine it will snap back like a rubberband.

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24 minutes agoJim Robertson

The Bear is already out. No reason to wait.

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25 minutes agoSam Waters

Strategists on Edge? JUMP! HAHHHAHAHAHAHHAHAaaaaa LOL.

https://www.youtube.com/watch?v=ap2J9RbXaP4

Van Halen - Jump 1984 Video stereo widescreen

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21 minutes agoBill H Illify

@Sam Waters

You got to roll-ol-ol with the punches....

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26 minutes agoAl Czverik

Who let the Bears out??? woof woof woof!!!!!

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26 minutes agoBil Rosel

GO BULLS GO . SEND ALL BEARS TO THEIR CAVES IN THE MOUNTAINS.

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27 minutes agoAl Czverik

Hey hey hey!!! Who turned the pump off?? Frank!!!!!!!. When will Old Yeller make hermove. Somebody wake up that old sea hag!!!!! FCOL!

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28 minutes agoRobert Gendron

Where are the S&P 2000 bots?

One of the posters earlier this week was talking about the 150 day support level, ifbroke, oh oh.

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26 minutes agoHams J

@Robert Gendron lol. In the slaughtering queue, waiting for their number!!

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28 minutes agoMark Excaliguy

Ruh Roh!!

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29 minutes agojuan hartnell

If it rolls back at 1775 you know benny made some calls last night.

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30 minutes agoRobert Bailey

2% down today?!?

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Intraday Data provided by SIX Telekurs and subject to terms of use. Historical and current end-of-day data provided by SIX Telekurs. Intradaydata delayed per exchange requirements. Dow Jones Indexes (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time.Real time last sale data provided by NASDAQ. More information on NASDAQ traded symbols and their current financial status. Intraday datadelayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Dow Jones IndexesSM from Dow Jones & Company, Inc. SEHK intradaydata is provided by SIX Telekurs and is at least 60-minutes delayed. All quotes are in local exchange time.