Thursday, November 1, 2007

November 2007 Monthly Pivots

Below are monthly support and resistance pivots for November. At the close of October, the indices sat just above their respective pivot points. Renewed credit and oil concerns have the indices challenging those pivots on the very first day of trading (sound familiar?), as follows:

S&P 500/ GSPC (SPY)-
Close: 1,549
Resistance: 1,570
Pivot: 1,538
Support: 1,506

Dow Jones Industrials/ DJI (DIA)-
Close: 13,930
Resistance: 14,193
Pivot: 13,872
Support: 13,551

Close: 2,239
Resistance: 2,262
Pivot: 2,194
Support: 2,126

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