As it was informed by "Market Leader (US)"
S&P500: volatility analysis in terms of option trading.
Last week the S&P500 index futures tried to break below the bottom of the 1077-1230 range. However that was a false breakout, with the price coming back into the range. By the end of the week the futures reached a major resistance around the 50-day MA, which is still unbroken. Once the resistance is not overcome in the short run, the S&P500 will go further down. In this case the following levels will act as supports: 1100, 1068, 1050. Otherwise, if the 50-day MA is overcome, the price may encounter resistance at 1200, 1250, 1230 and around the 200-day MA.