S&P500 Re-Cap 10-12-2011
The S&P 500 opened at 1200.50, 10.75 points above yesterday’s settlement at 1189.75. The S&P continued trading up to 1209.75, before pulling back to the 1204 price level.
The market consolidated in this area for C, D, E and F periods. In C period buyers stepped in taking the market to a new high at 1214.00, one of yesterday’s Macro Resistance levels. Resistance held for an immediate 5 point pull back, before buyers again took price up to test the high in K period.
Only making a 2 point higher high to 1216.00, sellers stepped in and sold the market all the way down through today’s range to make a lower low at 1196.50 before finding support.
We closed at the low 1197.50.
Macro Support
1182.00 10/11/11
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
Macro Resistance
1214.50 9/20/11 and 9/16/11
1229.00 9/1/11, 8/31/11
Micro Resistance
1207.00 9/20/11
1220.00 9/1/11
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