Tuesday, May 18, 2010

S&P500 day trading course

S&P500 day trading course live trading room.  As volume increases look for a turn in direction.  Volume increases and market goes down.  Volume decreases and market moves up. [caption id="attachment_2282" align="alignleft" width="285" caption="S&P500 day trading course 15 min"]S&P500 day trading course 15 min[/caption] POC 1140.25 for direction. 1147.25 for first resistance, 1154.25 is next level of resistance. Support on the 200MA, 1133.25 and 1st level support at 1129.75 then 1119.25. We have two open gaps on both sides of the markets range.  1156.25 and 1109.75. I would look for this to test to the 1155.25 area and the closing of the upper gap.  If this occurs today at closing I would look for a move down in after hours, consolidation through the week and the next move down by Friday. If we return to 1175 area, I would look for consolidation. Unless of course if we have more upheaval in the euro zone.  Iran is also coming to the forefront and with Obama's impotence in this area it leaves only military action available to Israel.  This could be dangerous for the markets and the world.  If the UN sanctions are weak, I am looking for the markets to consolidate.

S&P 500 day trading course

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