S&P 500 Re-Cap 10-18-2011
The S&P 500 opened at 1195.50, 1 point above Monday’s settlement at 1194.50. The S&P traded down to 1186.25 (Near Monday’s Macro Support) before finding support and auctioning back up to 1203.50. Resistance held and sellers responded for a 6.75 point pullback to 1196.75 where support held and price again auctioned up to a higher high at 1207.75. Responsive selling moved price down to 1204.00
Initiated buying continued throughout the day created higher highs and higher lows until the 1213.00 price level, where the sell down on Monday began.
Buyers again stepped in with conviction and bought the market up to a new high of 1229.75. (A Macro Resistance Levels from 8/31 and 9/1). Responsive selling then stepped in and the market moved down the range and closed at 1223.00
Macro Support
1185.25 10/13/11
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
1204.00 10/18/11
1177.00 10/10/11
1153.00 10/7/11
Macro Resistance
1258.00 8/3/11
1241.00 8/4/11
1229.00 9/1/11, 8/31/11
Micro Resistance
1248.50 8/3/11
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