S&P 500 Re-Cap 11-08-2011
The S&P 500 opened at 1263.50, 6.25 points above Monday’s settlement at 1257.25.
The Market traded down to 1261.00. Support was present and buyer bought it up to 1268.50 a 7.50 point response. Sellers responded selling price down through the range to a lower low at 1256.25, a 12.25 point response.
Support was present and buyers responded buying it back up to 1262.00. Sellers stepped in and sold price down to another lower low at 1251.50, also the day’s low. Support was present and buyers responded slowly buying price back up through the range to a higher high at 1275.25, a 23.75 point move. There was some minor resistance present on the way up that provided opportunities for a few points on the pullbacks. The Market Closed Near the high at 1273.25
Macro Support
1260.75 10/27/11
1251.50 11/8/11
1245.25 10/31/11
1236.50 11/7/11
Micro Support
1233.00 10/26/11
Macro Resistance
1321.50 7/27/11
1313.00 7/28/11
1300.75 7/29/11
1289.25 10/27/11
1283.50 10/28/11
Micro Resistance
1304.75 8/1/11
1296.50 7/29/11
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