The S&P 500 opened at 1265.75, 7.50 points below Tuesday’s settlement at 1273.25.
The Market traded up 1.50 points before encountering resistance at 1267.25. Seller’s responded selling price down to 1259.75 before encountering support.
Support was present and buyers bought price up through the range to a higher high at 1278.00. Resistance was present and sellers sold price to 1273.50, before the market consolidated in this area for the remainder of the day and closed at 1273.25. The same as yesterday’s close.
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)
