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ES Support and Resistance for August 20


Today's levels.


The S&P 500 Index (SPX) was up for the week. It continues to trade above both the 50 daymoving average and 200 day moving average. I'm still recommending being in both the S&P 500 ETF Trust (SPY) and the Powershares QQQ (QQQ). You should be moving your percentage closer to the 100% level. (Remember, there is also the alternative in the titans should you want to be in stocks, which would have you in at roughly 50% and be up 4% for that 50%.)

Friday saw the E-mini S&P 500 Futures Contract (ES) open above Thursday's close and between the pivot and R1. It was a very slow day as the range for the ES for most of the day was 4.25 points, finishing with 4.5 points for the time equivalent to the pit session.

The levels for today are:

R3 = 1423.75

R2 = 1419.25

R1 = 1417.25

Pivot = 1414.75

S1 = 1412.75

S2 = 1410.25

S3 = 1405.75

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