Wednesday, May 12, 2010

S&P500 day trading course open gap and targets

S&P500 day trading course, we are looking at open gaps and a possible break out to new levels on the daily chart. [caption id="attachment_2262" align="alignleft" width="219" caption="S&P500 day trading course daily chart"]S&P500 day trading course daily chart[/caption] Open Gaps  1154, 1109 Point of Control for today 1160 Upside targets (resistance) 1168, 1175, 1182.25 Downside targets 1160, 1159.25, 1149.50 Still looking for the lower high pattern to form with some doming as we have price failure on the move up.  Would be a good sign for a continuation down if we close around 1157 today. We are moving up with decreasing volume again.  Buyer commitment in supporting this market is weak.  If we have a small ranging body in this pattern, we could see a break of the 1142.50 support this week. 200MA is around 1094 for the extreme low resistance.

S&P 500 day trading course

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