S&P 500 Day Trading Course Gap for Feb 12, 2010 Support and Resistance

Futures opened at 1064.00, traded to a low of 1057.25 where they hit support, turned and began a 20.75 point ascent up.  Prices traded to a high of 1078.00 shortly before close when they relaxed a small amount to close the day at 1076.50. Friday I will be watching for a move through 1066 support and then 1057 area before calling a continueation down.  If the volume comes and the sellers sell, we will be looking to a run down.  Targets from there include 1051, 1041.50, 1034.50 and 1020.00.   However without the sell volume required we may see prices move back to the higher side.  1077  is the current level of resistance, if prices moves through the 1077-78 level our targets would include 1083.50, 1092, and 1100.00.   Keep yours eyes open, I see you at the starting line!

S&P500 day trading course