S&P 500 Re-Cap 11-22-2011
The S&P 500 opened at 1188.25, 2.5 points below Monday’s settlement at 1190.75.
The Market traded down 2.50 points before encountering support at 1185.75. Buyer’s responded buying price up to 1193.25.
Resistance was present and sellers sold price down through the range to a lower low and the day’s low at 1179.25, a 14 point response. Macro Support was present and buyers bought price back up through the range to a higher high and the day’s high at 1195.25, near macro resistance. Again sellers responded and spent the remainder of the daily slowly moving price down through the range to 1180, before closing at 1182.00.
Macro Support
1180.50 11/21/11
1179.25 11/22/11
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
1195.25 11/22/11
Micro Resistance
1217.00 11/16/11 and 11/17/11
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