S&P 500 Re-Cap 10-26-2011
The S&P 500 opened at 1238.00, 12.75 points above Tuesday’s settlement at 1225.25.
The Market then traded up 1.75 points to 1239.75 before sellers stepped in and sold price down to 1216.50 (The Day’s Low), a 23.25 point pullback.
Finding support, buyers auctioned price back up to 1228.00, an 11.50 point response.
Seller’s responded for a 7.50 point pullback to 1220.50. Buyers stepped in and bought price back up to 1239.00, price level before consolidating between 1239.00 and 1233.00 for the next hour.
Initiated buying came in during M period taking the market to a higher high at 1242.50 (A Macro Resistance Level). The Market closed at 1238.00. The exact price we opened at.
Macro Support
1221.75 10/21/11
1216.50 10/26/11
1185.25 10/13/11
1170.75 10/10/11
Micro Support
1233.00 10/26/11
1203.00 10/20/11
1196.00 10/20/11
Macro Resistance
1280.00 8/2/11
1258.00 8/3/11
1241.00 8/4/11
1235.00 10/24/11
Micro Resistance
1272.25 8/2/11
1264.50 8/2/11
1248.50 8/3/11
1229.00 10/26/11
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