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ES Support and Resistance for August 3


Today's levels.


I'm still tracking the the titans. The markets have spent much of the time since I first mentioned them, lower. The titans have been moving off their lows over this period. At the start of trading today, they are up 1% since I first listed them, so 1% over roughly one month. The companies I've been tracking 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 E-mini S&P 500 Futures Contract (ES) opened down almost 1%. The ES began right at S2. It pushed higher, encountering S1, which held. The ES then went back to S2. S2 offered little support. One doesn't expect the 3 levels to be touched too often so it was not a surprise that the ES wandered in the area between S2 and S3 before turning up to test S2 again. S2 did not provide significant resistance as the ES continued to move up.

The levels for today are:

R3 = 1400.75

R2 = 1380.5

R1 = 1371.25

Pivot = 1360.25

S1 = 1351

S2 = 1340

S3 = 1319.75

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