S&P 500 Re-Cap 10-20-2011
The S&P 500 opened at 1208.50, 1.50 points above Wednesday’s settlement at 1207.00. The S&P traded down to 1203.00 before finding support and moving back up the range to 1212.50 a 9.50 response. Seller’s responded and price sold off to 1196.50. Buyers stepped in and bought price back up to 1202.50
Resistance was present and seller’s again responded bringing price to the 1192.50 level today’s low. Support became apparent and buyers responded bringing price back up to 1211.75 near the day’s earlier micro resistance level at 1212.50.
Again buyers responded and took price down to 1203.25 near the day’s earlier micro support level for an 8.50 point pullback.
Responsive buying stepped in and took us to a higher high at 1215.50. Macro Resistance held and sellers responded for an immediate 9 point pullback to 1206.75. The market continued to consolidate in this area for the remainder of the day closing at 1209.
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
1203.00 10/20/11
1196.00 10/20/11
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
1215.00 10/20/11
Micro Resistance
1248.50 8/3/11
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