Tuesday, August 23, 2011

S&P 500 ~ EOD Update ~ 23 August 2011

I don't have much time until Thursday evening so unfortunately there won't be many updates till then.

The SPX declined below 1130 and I thought we'd see a decline to at least 1100ish. 1122 held multiple times though and today the market rallied from this level and closed around 3.5 % higher!

For once I'm posting an ES rather than an SPX chart because the ES displays the support and resistance levels much nicer:

Support is around 1145ish and 1120ish. Resistance levels are at 1180ish and 1200ish.