business newsES Support and Resistance for October 16
By
Dennis Coleman Oct 16, 2012 8:05 am
Today's levels.
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The E-mini S&P 500 Futures Contract (ES) opened higher than Friday's close and between the pivot and R1. It had been in a down trend during the pre-market and continued in that direction. The pivot yielded quickly, as the ES continued down. Before reaching S1, the ES turned around and headed back upwards and easily moved through the pivot and then R1. It then spent most of the day trading near R1 before moving a bit higher in the last 45 minutes. The range for the day was 14.5 points. It was an inside day.
The levels for today are:
R3 = 1460.25
R2 = 1445.75
R1 = 1440.75
Pivot = 1431.25
S1 = 1426.25
S2 = 1416.75
S3 = 1402.25
No positions in stocks mentioned.
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