Stock Market 101 – S&P 500 Mid-Day Update 10-18-2011

This is a mid-day stock market update on the S&P 500. We are looking are a potential breakdown or break out today or tomorrow. If we break to the downside our support level should be around 1190-1200 on the e-mini S&P futures contract. If we break to the upside, our first target is 1230 and then around 1250-1260. We are watching today to see how price trades around the 5 day composites point of control around 1219 +– 2 pts.