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Monday, July 26, 2010

S&P500 day trading course live room

S&P500 day trading course live room the point of control for tomorrow is 1107.25. [caption id="attachment_2409" align="alignleft" width="198" caption="S&P500 day trading course daily live trading room."]S&P500 day trading course daily live trading room.[/caption] Volume is low, low, low so the market is rallying. Each day we have had this piddling amount of volume the market makes a new high. All green, 3 market days in a row. So we should see tomorrow a test of support and then a break to new highs on the same low volume. watching for 1118.75-19.75 . Looking for this to move up over the next few weeks to 1056.25 area before we put in the next leg down.

S&P 500 day trading course

Sunday, July 25, 2010

S&P500 day trading course NY open daily chart

S&P500 day trading course Sunday Pre market NY open Price Action. [caption id="attachment_2399" align="alignleft" width="255" caption="S&P500 day trading course daily 7-26 chart"]S&P500 day trading course daily 7-26 chart[/caption] The area between 1083.75 and 1103.25 is where Market makers are either in distribution or accumulation at these levels as mentioned previously.  Remember the performance of the market and the performance in the economy is not linked, it is "unhooked" presently and there fore am watching for market makers to take advantage of investors in the near term. If we see a break to the topside resistance is at 1119.75 then an extreme high of 1129.75. If this resistance is broken watch for the longer term targets of 1145 and 1169. On the support side we will be watching as traders are looking for commitment in direction and breaking through the 1080.50 Point of Control.  Expecting the range to be to 1066 and bounce around here unless there is a large sell off.  I think this will occur off a head fake into previously mentioned resistance. Looking for a intermediate term double bottom at an extreme low of 1001.75.   If the market stalls here then we will have a consolidation zone which coincides with longer term charts.

S&P 500 day trading course

Monday, July 19, 2010

S&P 500 day trading course daily chart retrace to 1081

S&P 500 day trading course daily chart retrace to 1081 on the upside. [caption id="attachment_2394" align="alignleft" width="258" caption="S&P500 day trading course daily "]S&P500 day trading course daily [/caption] Looking at the bit of support here at 1062.75 and 1055.50 . The next level is 1036.75. We are in a Bearish channel to the resistance around 1083.50 close to the 200 ema, which as mentioned before is the heads up line to congestion to the 200ma.  Market makers could play this to the continuation of this channel. We will be able to tell as the stress test plays out and if there is another low volume rally. July and August usually has lower volume and most execs are off for the summer.  The stress test could make it busy if the general public understands that their health will be a sign of more and more money flowing into their pockets and out of investors (watch out pension funds)

S&P 500 day trading course

Monday, July 12, 2010

S&P500 day trading course daily chart

S&P500 day trading course Daily chart and analysis. [caption id="attachment_2377" align="alignleft" width="258" caption="S&P500 day trading course daily Chart price action trading"]S&P500 day trading course daily Chart price action trading[/caption] The S&P500 emini futures areas of support and resistance. We are looking for weakness in this move up. There is decreasing volume in the S&P500 futures contract over the past four days.  When volume is decreasing on moves up we are looking for a day like to day to show a stall in the commitment and then either a few days of consolidation to continue or a sell off. It looks like the S&P500 is headed to the 200 EMA which is used by professional traders.  This is the first area of resistance.  I normally look for an evening off of the volume to determine the move once the price enters in the trough between the dotted red 200 ema and the 200ma the solid red line. We also have a resistant trend line that would be keeping the bearish channel.  The key will be the new commitment after a slight pause in the range for the next move up or out of the trough.

S&P 500 day trading course

Wednesday, July 7, 2010

S&P500 day trading course Daily chart pre open

S&P500 day trading course daily chart 7-8 areas of support and resistance. [caption id="attachment_2372" align="alignleft" width="266" caption="S&P500 day trading course daily chart support and resistance"]S&P500 day trading course daily chart support and resistance[/caption] The S&P500 emini futures rallied up to 1059 with practically a 50 point range including after hours. This rally came on 2.6 million contracts. This is very light reversal on the previous 7 day down trend. If this breaks above 1080, it will be quite remarkable and we could see some more resistance to the 200ma at 1100, as signified by the solid red line. A retracement to 1036 would keep this down trend in tact. Looking for support at 1036 then 1029.

S&P 500 day trading course

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