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

For the week the S&P 500 (SPX) looks set to end off its life high, but by a very small margin considering the dip that took place on Monday and Tuesday. At time of writing the index was at 3146.98, a relative handful of points away from the life high at 3154.26. Breaking through the life high becomes the first objective of the week ahead. A probable range for the index thereafter would be 3155-3175. Support is at 3130-3120. The worst-performing sectors for the week, which does not include today's pricing, were the Industrials (XLI) and Consumer Discretionary (XLY).