S&P 500 Re-Cap 11-23-2011
The S&P 500 opened at 1174.75, 7.25 points below Tuesday’s settlement at 1182.00.
The Market traded up 1.50 points before encountering resistance at 1176.25. Seller’s responded selling price down to 1164.00 before encountering minor support for a 4 point response.
Resistance was present at 1168.50 and sellers sold price down to a lower low at 1161.00, a 6.5 point move. Support was present and buyers bought price back up to 1169.50. The market traded in this area for about 45 minutes before sellers stepped in and sold price back down to test the low at 1161.00. Support held and buyers slowly bought price back up through the day’s range, but only made it to 1170.00 before sellers again stepped selling price back down to a lower low at 1158.50, before closing at 1160.25.
Macro Support
1144.75 10/6/11 and 10/07/11
1134.00 10/5/11
1129 10/6/11
1122.50 10/5/11
Micro Support
1153.00 10/7/11
1134.00 10/5/11
Macro Resistance
1176.25 11/23/11
1195.25 11/22/11
1200.50 9/21/11
1214.50 9/20/11 and 9/16/11
Micro Resistance
1217.00 11/16/11 and 11/17/11
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