S&P 500 Emini Day Trading Gap Thursday January 21, 2010

                     S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Thursday January 21, 2010

S&P Emini 500 Futures started Wednesday's trading with a gap down of 8.25 points, and the gap remained unfilled at the end of the day.  Trading on the day took the index through 13 points to the downside before retracing about 70% of the decline.  The morning sell off was high volume, but the retracement came with less volume over a longer time period.  Tomorrow may yield high volatility with unemployment claims pre market, and big market movers reporting earnings, GOOG and GS, among others.  Today's down action came on 66% higher than average volume, a bearish signal.  The bulk of the day's trading was inside yesterday's bullish action, so net market movement is sideways.  Prices are still teetering in overbought territory, with a much anticipated down turn possible.  On longer term charts, such as the weekly, the market is still very much in an uptrend.

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Forex trading course - EURUSD temporary support jan 20

Forex trading course - EURUSD temporary support jan 20 [caption id="attachment_347" align="alignleft" width="244" caption="Forex trading course - EURUSD temporary support jan 20"][/caption] Support is coming in, watch the down side consolidation, shooting out stops for those that play off the figure. S&P500 showing a lot of volatility too.

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forex trading course - EURUSD dollar strength 2 days in a row

The USD has climbed for a second consecutive day as negative sentiment continued to weigh heavy on risk appetite. Equity markets in Europe have struggled, and after EURUSD broke through downside support at 1.4250 overnight, the pair has continued to trade heavily, touching lows of 1.4126. In parallel, gold has broke through its near term support level of $1130 to trade down to $1120.45, but we expect prior buying interest at $1119 to provide some respite to the sell-off. [caption id="attachment_343" align="alignleft" width="202" caption="Forex trading course jan 20 dollar strength"][/caption] During the morning session, the UK ILO unemployment rate surprisingly fell to 7.8% (exp: 8.0%, prev: 7.9%), but the GBP failed to find much buying interest on this news. Also released were the minutes of the recent BoE meeting; as expected, there was a unanimous 9-0 vote to keep rates on hold and maintain the asset purchase target at GBP200bn. Furthermore, the statement explained that recent developments had not substantially changed the BoE's view on the medium term outlook, and instead, they would wait until the release of the February Inflation Report to get a clearer assessment of the factors affecting the economy. During the afternoon, Canadian CPI disappointed at -0.3% MoM (-0.1% expected, 0.5% prior), forcing USDCAD to push through 1.0450 resistance, touching a high of 1.0487. US housing starts and building permits were mixed on the whole, but the net result has seen further USD buying into the USequity market open. Tomorro [...]

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