S&P 500 Re-Cap 10-24-2011
The S&P 500 opened at 1236.25, 1.50 points above Friday’s settlement at 1234.75. The S&P traded down to 1235.00 before finding support and auctioning up the range to 1243.00 a 8 point response. Seller’s responded for a 4 point pullback to 1239.00. Buyers stepped in and bought price back up to 1246.25, before Sellers again responded for a 3.5 point pullback to 1242.75
Support was present and buyers again responded bringing price up to the 1250.25 level. Resistance was present and sellers responded for a 5.5 point pullback to 1244.75. Again buyers responded and took price up to 1252.50 a 7.75 point response. Also the day’s high.
The market continued to consolidate between the high and the 1245 price level for the remainder of the day, before closing at 1247.25.
Macro Support
1221.75 10/21/11
1185.25 10/13/11
1170.75 10/10/11
Micro Support
1203.00 10/20/11
1196.00 10/20/11
Macro Resistance
1280.00 8/2/11
1258.00 8/3/11
1241.00 8/4/11
1235.00 10/24/11
Micro Resistance
1272.25 8/2/11
1264.50 8/2/11
11248.50 8/3/11
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