S&P 500 Day Trading Course Gap For Dec 4, 2009 Learn How to Trade

Trading opened today at 1110.75, up 2.75 points from Wednesday's close. Prices moved quickly to their high for the day at 1117.00, then turned and traded back down. Prices moved down 19 points to a low of 1098.00 shortly before close the closed trading at 1098.25.

Prices yet again tested the resistance and failed, the increase in seller volume today could point toward a sell off going into the weekend. Should prices break support at 1092.00 and 1082.50, we could be looking at a change in direction for this currently overbought market.

See you at the starting line!

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S&P 500 Day Trading Course Gap For Dec 3, 2009 Learn How to Trade

Wednesday trading opened at 1108.00, up 3 ticks from Tuesday's 1107.25 close. Prices traded up from open to test the resistance in the 1112.00 area where it pierced with a high of 1115.50 but could not continue. Prices changed direction and moved back down into our 8 or so point range of consolidation between 1104.00 and 1112.00. Prices bottomed out at 1104.25 and traded the rest of the day within the fence to close the day at 1108.00.

Still watching the 1112.50 area with 1115.50 now the new high. Looks like Vol will have to break over 1.7 million contracts to get enough of a move to break the consolidation. On the low side we could see some retesting of the 1104.00 area then 1100.00 and 1091.25 from there.

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