|ES Support and Resistance for November 16|
By Dennis Coleman NOV 16, 2012 8:11 AM
The titans have moved lower over the past week. They are now down 3% overall. Those added in August are still up, but only 2%; the ones added in September are down 5%, those added in October are down 5%, and those added in November are down 6%.
The E-mini S&P 500 Futures Contract (ES) opened slightly higher and between S1 and the pivot. (The levels were far apart.) The initial movements were large but the ES essentially moved sideways after that. The ES continued down but with the large distance between the levels, S1 was not touched by the middle of the afternoon. The day ended with the ES pretty much where it began the day.
The range for the day was 13.25 points.
The levels for today are:
R3 = 1378.25
R2 = 1365
R1 = 1358
Pivot = 1351.75
S1 = 1344.75
S2 = 1338.5
S3 = 1325.25