S&P500 Re-Cap 10-10-2011
The S&P 500 opened at 1171.00, 21.25 points above Friday’s settlement at 1155.75. The S&P traded up 1183.75 near 10/07/11 micro resistance at 1184.00. Resistance held for a 3 point pullback.
The market then spent the majority of the day consolidating in a 6 point range between 1181.00 and 1187.00 before sellers stepped in during L period and sold the market down to 1177.00, today’s micro support.
Support held and responsive buying took price up through the range creating a higher high at 1192.25., 25.75 points above Friday’s close. We closed at 1191.50
Macro Support
1170.75 10/10/11
1144.75 10/6/11 and 10/07/11
1129 10/6/11
1109.25 10/5/11
Micro Support
1177.00 10/10/11
1153.00 10/7/11
1134.00 10/5/11
1122.50 10/5/11
Macro Resistance
1200.50 9/21/11
1214.50 9/20/11 and 9/16/11
Micro Resistance
1195.50 9/21/11 and 9/14/11
1207.00 9/20/11
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