On The Fly: Weekly technical notes for S&P 500

The S&P 500 (SPX) is set to end the holiday-shortened week relatively flat. At the last price of 2906.22 at time of writing, the index has a small amount of resistance at the 2925 area and then at the life high at 2940.91. Support for the coming week is at the 2875-2850 area. The big difference in this coming week is that a significant number of key earnings are taking place during a holiday for many. While not unique, the reporting season began later than usual and so there is a highly-compressed calendar ahead with over 120 names set to report. It is possible there could be some trading liquidity issues as a result, with greater volatility than usual. Financial names will continue to dominate the calendar.