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Saturday, October 10, 2009

S&P 500 Day Trading Course Gap For Oct 12, 2009 Learn How to Trade


Prices opened today one point below the gap at 1061.25. Prices hit the low of 1059.00 early into trading again today, but today was a hard one to trade. Prices were very consolidated throughout the day, trading a 3.5 point channel between 65.50 and 62.00 through almost the whole day. Prices did move out of the channel shortly before close, hitting a daily high of 1067.75 then relaxing to close the week at 1066.25. The total range for the day came in at a weak 8.75 points, while the gap of 1062.25 was filled.


With the volume still decreasing and prices still moving up, watch as prices approach the 1070.00 area. We are looking at a possible double top forming from Sept 23 at 1075.75. If we get it and can't break though we could be looking at a reversal. I expect to find out by Monday or Tuesday. Until then, See you st the starting line!


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