Add/subscribe

Share/Save/Bookmark

Wednesday, October 28, 2009

S&P 500 Day Trading Course Gap For Oct 29, 2009 Learn How to Trade


Trading opened today at 1055.50, down 6.75 points from Tuesday's 1062.25 close. We traded up to 1060.25 resistance this morning, leaving the gap open as prices turned and began to fall. The rest of the day became a short position as prices fell 21.75 points right into the close, testing the 1040.00 area of support but not making it through with an intraday low of 1039.00 minutes before close and a retrace 2.25 points to close the day just above support at 1041.25.

Longer term we are looking at a test of the 1035-1036 level of support where will be looking for a decision as to where prices will go. If we break through the 1035 level of support we could be looking at a test to the 1026.50, and 1020.25 with a possible retest into the 1012.50 area which we last saw Aug 21. If we do bounce off of support at the 1035 area we could see a move back up to the 1060.00 level. My WAG is that we would see some consolidation before another test back up to those levels. Of course there is only one way to find out.... I'll 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