S&P 500 Re-Cap 11-21-2011
The S&P 500 opened at 1196.25, 17.25 points below Friday’s settlement at 1213.50.
The Market traded up 1.50 points before encountering resistance at 1197.75, the day’s high. Seller’s responded selling price down to 1180.50, the day’s low.
Support was present and buyers bought price up to 1186.50, a 6 point response. The market traded within a 5 point range for the next hour and a half before initiated buyers stepped in and bought price back up to 1192.00. Micro Resistance was present and sellers responded for an immediate pullback to 1189.00.
The market consolidated in this area for the next 30 minutes before buyers stepped in and bought price up to test the high. Unable to make a higher high resistance was present at 1196.75 and sellers sold price back down to 1188.00 before closing at 1190.75.
Macro Support
1185.25 10/13/11
1180.50 11/21/11
1170.75 10/10/11
1144.75 10/6/11 and 10/07/11
Micro Support
1177.00 10/10/11
1153.00 10/7/11
Macro Resistance
1236.00 11/17/11
1229.00 9/1/11, 8/31/11
1221.75 11/18/11
1197.75 11/21/11
Micro Resistance
1217.00 11/16/11 and 11/17/11
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