Stock Market 101 – S&P 500 10-13-2011

Market finally taking a breather. We are at the point of control over the last 5 days – looking for support. If support holds on the 5 day chart we will push up against yesterdays upper range. If not, there is support anywhere from 1180, 1160-1150 on the S&P. 1150ish is where the point of control for the entire 3 month composite we are in lies. I assume that is where many buyers are interested in entering the market at.