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ES Support and Resistance for August 17

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Today's levels.

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The markets have recovered quite a bit from when I first mentioned the titans. As of the close yesterday, the titans I've recommended were up 3% overall. Those added in June were in virtually that same place as last week, being up 7%. Those added in August have recovered and are unchanged when taken together. The companies added in July are Arctic Cat Inc. (ACAT), Carmike Cinemas Inc. (CKEC), Town Sports International Holdings Inc. (CLUB), Conns Inc. (CONN), DXP Enterprises, Inc. (DXPE), Fifth & Pacific Companies, Inc. (FNP), Myers Industries Inc. (MYE), and Susser Holdings Corporation (SUSS). The ones added for August are AEP Industries Inc. (AEPI), American Railcar Industries, Inc. (ARII), Drew Industries Inc. (DW), DXP Enterprises, Inc. (DXPE), Gruma S.A.B. de CV (GMK), GP Strategies Corp. (GPX), The Marcus Corporation (MCS), Multi-Fineline Electronix Inc. (MFLX), Nortek Inc. (NTK), and Grupo Simec S.A.B. de C.V. (SIM).

The E-mini S&P 500 Futures Contract (ES) opened above Wednesday's close and between the pivot and R1. In the pre-market, R1 had served as effective resistance. The ES moved down to the pivot where it turned around and headed back to R1. It paused briefly at R1 before going to and through R2. As the ES approached R3, it once again paused. The ES ended the day between R2 and R3.

The levels for today are:

R3 = 1437.5

R2 = 1423.75

R1 = 1418.5

Pivot = 1410

S1 = 1404.75

S2 = 1396.25

S3 = 1382.5

No positions in stocks mentioned.
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