business newsES Support and Resistance for September 11
By
Dennis Coleman Sep 11, 2012 8:05 am
Today's levels.
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The E-mini S&P 500 Futures Contract (ES) opened lower than Friday's close and between the pivot and S1. It had bounced off S1 in the pre-market. The ES reached the pivot, which held. It then rushed back to S1, which also held. The bouncing between S1 and the pivot shouldn't have held long as the spread between the two was only 2.5 points. The ES traded around the pivot for most of the morning before moving down to S1 in the early afternoon. S1 did not hold. Eventually, the ES made it down to S2 where is paused briefly before breaking through. The range for the day ended up being 12.25 points.
The levels for today are:
R3 = 1454.5
R2 = 1442.25
R1 = 1434.5
Pivot = 1430
S1 = 1422.25
S2 = 1417.75
S3 = 1405.5
No positions in stocks mentioned.
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