S&P 500 Re-Cap 11-16-2011
The S&P 500 opened at 1242.50, 11.25 points below Tuesday’s settlement at 1253.75.
The Market traded down 1.75 points before encountering support at 1240.75. Support was present from the day before and buyers bought price up to 1254.50 yesterday’s micro resistance area.
Encountering resistance sellers responded selling price down to 1247.50 a 7 point response.
Buyers stepped in and bought price back up to a higher high and the day’s high at 1257.75, a much anticipated Macro Resistance level. Resistance held and sellers sold price back down all the way through the range to a lower low and the day’s low at 1230.50, a 27.25 point response.
The market closed at 1230.75.
Macro Support
1221.75 10/21/11
1216.50 10/26/11
1185.25 10/13/11
1170.75 10/10/11
Micro Support
1203.00 10/20/11
1196.00 10/20/11
Macro Resistance
1264.75 11/11/11
1258.00 8/3/11, 11/7/11, 11/14/11
1249.25 11/9/11
1241.00 8/4/11
1238.75 11/2/11
Micro Resistance
1248.50 8/3/11
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