S&P 500 Re-Cap 10-26-2011
The S&P 500 opened at 1243.50, 3.75 points below Monday’s settlement at 1247.25. The S&P traded up .50 point to 1244.00 (the day’s high) before sellers stepped in and sold price down to 1227.50, a 16.50 point pullback.
Finding support, buyers auctioned price back up to 1241.75, a 14.25 point response. Seller’s responded for a 10.50 point pullback to 1231.25. Buyers stepped in and bought price back up to 1241.00. Resistance held and price pulled back to the 1231.00 price level.
Support was present and buyers again responded bringing price up to the 1236.75. Resistance came in and sellers responded for a 14.50 point pullback to 1222.25 (Yesterday’s 1st Macro Support Level). This was also a lower low and the day’s low.
Support held and the market closed at 1225.25.
Macro Support
1221.75 10/21/11
1185.25 10/13/11
1170.75 10/10/11
Micro Support
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
11248.50 8/3/11
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