Add/subscribe

Share/Save/Bookmark

Thursday, October 1, 2009

S&P 500 Day Trading Course Gap For Oct 2, 2009 Learn How to Trade


Trading opened today at 1048.50, down 9 points down from yesterday's close. We hit our high almost immediately again today peaking at 1049.25, then turning and moving down from there. As I stated in a previous post, with a good push through support at the 1045.00 and then some smaller support at the 1035.00 levels we could see prices hit our next level of major support as low as 1027.00. That push came to us today my Friends, our low came today just before close at 1024.50 and close only moments later at 1025.25. So close that I had to go to the 1 min chart to get a clear reading.

With an overall range today of 24.75 points we had solid direction, however the gap remained open today at 1057.50 leaving me wondering when we will move back up to fill it? Tomorrow with some more volume like we have seen the last couple days I think could see another push down to the 1014.00 or even the 998.75 area. But remember that going into the close today we were way into the oversold condition a possible indication of a retracement or perhaps some consolidation before our next move. (in the case of a retracement I would watch for the 1035 - 1040 area as a target, but that's just me)

See you at the starting line!


S&P 500 day trading course live room emini futures education coach levels of support and resistance for, http://www.tradingonlinemadeeasy.com with break outs, break downs, point of control in live day trading room. The Money Maker Edge™ system.

Day trading S&P 500 emini futures live trading room and day trading course's Fan Box