ES Support and Resistance for November 9

By Dennis Coleman  NOV 09, 2012 8:05 AM

Today's levels.


Despite the rather large sell-off in the major averages, the titans moved up when compared to last week, being up 3% for the stocks listed. The companies added for November are The Bon-Ton Stores, Inc. (NASDAQ:BONT), Gentiva Health Services, Inc. (NASDAQ:GTIV), IMPAC Mortgage Holdings, Inc (NYSEAMEX:IMH), KB Home (NYSE:KBH), M/I Homes Inc (NYSE:MHO), Patrick Industries, Inc. (NASDAQ:PATK), Sunrise Senior Living, Inc. (NYSE:SRZ), Stewart Information Services Corp (NYSE:STC), TPC Group Inc (NASDAQ:TPCG), and USG Corporation (NYSE:USG). Those added in August are up 6%; the ones added in September are up 2%; those added in October are up 4%; those added in November are essentially unchanged.

The E-mini S&P 500 Futures Contract (ES) opened higer and just below the pivot. It had been testing the pivot in the pre-market. By the middle of the day, the ES was trading at S1. It spent most of the remainder of the day trading in this area. As we moved into the close, the ES spiked down, closing between S2 and S1.

The range for the day was 25 points.

The levels for today are:

R3 = 1431.75

R2 = 1406.75

R1 = 1391

Pivot = 1381.75

S1 = 1366

S2 = 1356.75

S3 = 1331.75

No positions in stocks mentioned.