S&P500 day trading course price action and Gold

S&P500 day trading course price action and Gold following price action into the decreasing volume as traders depart for the holidays. [caption id="attachment_3434" align="alignleft" width="75" caption="Wall street christmas S&P500 emini futures day trading course"][/caption]Every year there is wonder and seeming amazement as we enter the holiday season and there seems to be a bit of levitation as the markets drift up. This Chris Angel like magic has the numbers reaching new highs in the after hours and sending it back down just before the open. The S&P500 emini then seems to almost magically lift off on little or no volume to again reach new highs. [caption id="attachment_3435" align="alignleft" width="300" caption="S&P500 day trading course daily chart dec 22"][/caption] Support at 1221 then 1240 with a Point of Control at 1245.50 Would expect to see this move down in the overnight for another act of levitation during the normal trading hours. [gallery] On the high side looking for resistance at the previous highs around 1250, with further resistance coming in at 1253.75 then 1258.75 then

S&P 500 day trading course

S&P500 day trading course Dec 16 price action

[caption id="attachment_3431" align="alignleft" width="300" caption="S&P500 day trading course price action"][/caption]S&P500 day trading course price action on S&P500 emini futures contract area of support and resistance. Point of Control is 1232.50 as sellers engulfed the previous buyers move up off of support at 1230. Watching for a move off of 1229 to 1235 and then a continuation to previous highs for the weekend. Don't forget about the invisible hand. If we do break support at 1230 then the next level of support is 1221 then 1214. Looking for an extreme low at 1207. Resistance is coming in at 1240-2 with 1249-51 and then an extreme high at 1265, probably coming in this next week before Christmas.

S&P 500 day trading course

S&P500 day trading course Dec 14 price action point of control

S&P500 day trading course price action and point of control for Dec 14 S&P500 emini futures day trading. [caption id="attachment_3417" align="alignleft" width="300" caption="S&P500 day trading course dec 14 price action"][/caption] Point of control has not changed since yesterday as we enter pre market before the FOMC meeting on Tuesday. We had a reversal bar on the last 4 hour bar and looking for support here with a 50% retracement and then a possible reversal to stall around the previous high. A short term double top could be in until the meeting at 2:00.

S&P 500 day trading course

S&P500 day trading course price action

S&P500 day trading course areas of support and resistance and price action. Looking at the 240 min chart areas of support and resistance on the S&P500 emini futures contract. [caption id="attachment_3409" align="alignleft" width="276" caption="S&P500 day trading course price action"][/caption] Levitation in the market place as low volume and a lack of volume increases the effect of buyers entering the market. Resistance will come in 1241.75 after this morning's run up. watching for a break to upper trend line around 1262.75. If we make it through here and can see some Christmas glee in the form of increased consumer spending, looking for a top around 1285. This is a longer term picture for the month with support coming in at the point of control for today at 1237.50 with sellers in control under here. The next area of major support will hit around 1229 then 1215-18. If we do get a break of this area we might see the 200 MA on the 240 min touched at 1205. Will be a consolidated area to trade this next week as most investors will be in the "let it ride" cycle of the year. S&P500 and Tuesday's FOMC meeting In all likelihood it's going to be a quiet FOMC meeting this time around – in stark contrast to the hugely anticipated QE2 announcement meeting last month. At the last meeting, the Fed announced some $600bn of Treasury purchases extending into Q2 2011, but the effects of that injection will take some time before they filter into the key economic data that the Fed is monitoring. In fact, the data since that meeting has been far from [...]

S&P 500 day trading course

S&P500 day trading course mid day price action

S&P500 day trading course live trading room price action on the S&P500 emini futures contract. [caption id="attachment_3402" align="alignleft" width="276" caption="S&P500 support and point of control"][/caption] Point of control for today is 1183.50 and the buyers can barely keep it above this level.

S&P 500 day trading course