|ES Support and Resistance for October 26|
By Dennis Coleman OCT 26, 2012 8:05 AM
It has been a trying couple of weeks. The titans moved down when compared to last week. Those added in July are up roughly 3% (combined); those added in August are up 8%; the ones added in September are unchanged; those added in October are down 1%. The companies added in October are CONN'S, Inc. (NASDAQ:CONN), Gentiva Health Services, Inc. (NASDAQ:GTIV), IMPAC Mortgage Holdings, Inc. (NYSEAMEX:IMH), ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS), Key Tronic Corporation (NASDAQ:KTCC), M/I Homes Inc. (NYSE:MHO), Patrick Industries, Inc. (NASDAQ:PATK), Sunrise Senior Living, Inc. (NYSE:SRZ), Seagate Technology PLC (NASDAQ:STX), USG Corporation (NYSE:USG).
The E-mini S&P 500 Futures Contract (ES) opened higher and above R1. It quickly returned to test R1. It then moved down to the pivot where it paused before moving down to test S1. S1 provided effect support as the ES rebounded. The ES spent the remainder of the day just under the pivot.
The range for the day was 17.25 points.
The levels for today are:
R3 = 1442.75
R2 = 1425.5
R1 = 1416.75
Pivot = 1408.25
S1 = 1399.5
S2 = 1391
S3 = 1373.75