S&P 500 Re-Cap 1-4-2012

The S&P 500 opened at 1268.00, 4.25 points below Monday’s settlement at 1272.25.

The Market traded up 2.25 points before encountering resistance at 1270.25. Seller’s responded selling price down to 1262.75 before encountering support.

Support was present and buyers bought price up through the range to 1272.00. The market consolidated in this area the rest of the day only making a slightly higher high to 1273.75 in K and M periods, before closing at 1273.25.

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Macro Support

1270.25 1/3/12

1263.75 1/4/12

1250.75 12/30/11

1247.50 12/29/11

Micro Support

1259.25 12/30/11

Macro Resistance

1279.75 1/3/12

1273.75 1/4/12 (Near today’s close)