Tuesday, November 1, 2011

S&P 500 ~ Pre-Market Warm-Up ~ 1 November 2011

The ES hit 1212.50 a few minutes ago losing almost 80 handles within less than three days!

Wave (B) (or [2]) probably ended at 1293. Wave 1 of (A) was around 110 points. If we assume the same length for wave 1 of (C) we get a target of ~1185 which is right at the 1190ish support area.


Support levels are at 1220/30 and 1190ish. Resistances are at 1253 (today's gap), 1285, and 1300ish.