Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

ES Support and Resistance for September 17

By

Today's levels.

PrintPRINT

The S&P 500 Index (SPX) was up for the week and continues to trade above both the 50 day moving average and 200 day moving average. The only down day last week was Monday. I would recommend that if you are using ETFs as your method of investing, that you stay close to 100% invested using both the S&P 500 ETF Trust (SPY) and the Powershares QQQ (QQQ). (Remember, there is also the alternative in the titans should you want to be in stocks, which would have you in at roughly 75% and be up 6% for that 75% since I recommended you begin scaling in.)

Friday saw the E-mini S&P 500 Futures Contract (ES) open above the previous close and between the pivot and R1. Since the range on Thursday had been 29 points (remember, I switched to the data for the December contract for the levels for Friday), the levels were far apart. Before the first half hour was over, the ES was approaching R1. After bumping against R1 for 25 minutes, the ES moved above that level, only to return to it as it does when it tests a level. R1 effectively held as the ES moved down. The ES moved down quite a bit but did not approach the pivot as the levels were quite far apart.

The levels for today are:

R3 = 1488

R2 = 1474.25

R1 = 1466.5

Pivot = 1460.5

S1 = 1452.75

S2 = 1446.75

S3 = 1433

< Previous
  • 1
Next >
No positions in stocks mentioned.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE