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Friday, September 25, 2009

S&P 500 Day Trading Course Gap For Sept 28, 2009 Learn How to Trade


Trading began the day today at 1042.00, 4.5 points down from yesterday's close. Prices hit their high this morning at 1049.00, then turned and retreated back down breaking the support of the 1043.00 area. Prices hit the low of 1036.25 around 1:00 market time, then spent the remainder of the day day consolidating in a 4 or so point range around 1040.00 to 1044.00.

Close for the weekend came in at 1040.25 today, after trading a 12.75 point range though out the day. Prices closed today right around the 38.2% retracement from out previous weeks run up from the 988.00 level to the 1072.00 level. If the move continues we could see a push down to the next major level of support around the 1027.00 (50% retracement) area provided we don't get stuck in consolidation after the weekend.


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