S&P 500 Re-Cap 10-27-2011

The S&P 500 opened at 1271.00 (near a micro resistance level), 33 points above Wednesday’s settlement at 1238.00.

The Market immediately traded down 10.25 points to 1260.75 before finding support. Buyer’s stepped in and bought price up through the range to a higher at 1275.75, a 15 point response and a higher high.

Micro resistance came in for a 3.5 point pullback to 1272.25.

Initiated buying came in and auctioned price up to 1289.25, a 17 point move to the day’s high.

Seller’s responded for a 14.75 point pullback to 1274.50. Buyers stepped in and bought price back up to 1283.50 price level before closing at 1283.25

10-27-11-SP-MP.PNG

Macro Support

1260.75 10/27/11

1221.75 10/21/11

1216.50 10/26/11

Micro Support

1274.50 10/27/11

1233.00 10/26/11

Macro Resistance

1335.00 7/26/11

1321.50 7/27/11

1313.00 7/28/11

1304.75 8/1/11

1300.75 7/29/11

1289.25 10/27/11

Micro Resistance

1296.50 7/29/11

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