May 8, 2013 Daily Analysis

There was no analysis written yesterday although I did track the pivot points.  Below is the chart to base the pivots off of for todays analysis as well as the pivots for tomorrow

	April	3-May	7-May	8-May
High	1594.25	1614.25	1621.75	1629.5
Low	1530.75	1573.75	1609.25	1617
Close	1594.00	1609	1621.25	1628.5
R3	1678.75	1664.75	1638.083	1645.5
Mid	1657.63	1652.125	1634	1641.5
R2	1636.50	1639.5	1629.917	1637.5
Mid	1625.88	1631.875	1627.75	1635.25
R1	1615.25	1624.25	1625.583	1633
Mid	1594.13	1611.625	1621.5	1629
Pivot	1573.00	1599	1617.417	1625
Mid	1562.38	1591.375	1615.25	1622.75
S1	1551.75	1583.75	1613.083	1620.5
Mid	1530.63	1571.125	1609	1616.5
S2	1509.50	1558.5	1604.917	1612.5
Mid	1498.88	1550.875	1602.75	1610.25
S3	1488.25	1543.25	1600.583	1608

The below chart shows the ES for today.  Notice how it started at the Pivot Point and went up to R2.  It was a good run from the pivot point to the R2. 

 

 

The ES is getting close to the R2 pivot on a monthly chart.  With the price running up so fast, there should be a swing back to more of the middle by the end of May.  Look for some correction.