Wednesday, February 24, 2010

S&P 500 Day Trading Feb 25, 2010 Support and Resistance

Today, the S&P 500 opened 1096.75, leaving a 3.25 point gap from yesterday's close. The market quickly made a move up past 1100, but then even faster than it rose, dipped down to the day's low of 1093.75 after news of new home sales, filling the gap from yesterday. We then saw a quick climb back mid-morning up to 1105, with help from a bit more news and eventually hitting the high for the day at 1105.50. The range for the day was 11.75. The market closed at 1103.50.

Market Maker Edge Day Trading course

S&P 500 Emini Day Trading Gap Thursday February 25, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2063" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Thursday February 25, 2010"][/caption] S&P Emini 500 Futures opened up 3.25 points this morning.  News reports took and gave today.  The new home sales report created an initial sell off, filling the gap, then government officials testimony brought the index back into the opening range.  Traders supported the index at the 1100 level in the last hour of trading, and the close came at 1103.50, up 10 points.  The up closing came on average volume,. but it should be noted that today's action was inside yesterday's candlestick.  So far, the technical support at 1092 is holding, with some excursions around the psychological support at the 1100 level.  More Bernanke testimony, along with jobless claims in the pre market should cause market reaction in these news driven moves.  Who knows which direction?

S&P 500 day trading course

Market Makers - Fed Ron Paul access records.

Ron Paul sounds a bit off asking for these records, but once in he might be able to receive more. Also questioning about Fed bailing out Greece and buying foreign debt.

Market Maker Edge Day Trading course

S&P 500 support and resistance live trade room

Opened at 1098.00 a gap up from yesterdays close of  1092.75. The gap didnt close until 11:40 EST through and a close of 1097.75. Most of the day consisted of sidways action with trades occuring wihtin the bollinger lines. the 1100 ceiling was tested twice and the support of 1092.75 was tested twice as well. Trading tomorrow will need larger sellers or buyers to break both of these support/resistance lines. Tomorrow's news occur mainly premarket time except for crude inventories that will most likely add volatility into the market at 11:00 EST. Look for another test at the 1100 ceiling tomorrow with a break back down to the 1092.75 support as today's volume and sideways action shows buyers are reluctant.

Market Maker Edge Day Trading course

S&P 500 Emini Trading

Opened today at 1083.75, gap up of 3 points from Friday's close. gap was quickly filled dropping to 1079.75, a strong resistance line. Market turned at this resistance for an uptrend  the rest of the day to close at 1092.75 a 13 point range. Pre-market today the longer term chart's MAs moved into a sweep position indicating agreement in buyers to move the market up. Next ceiling is at 1100, a very strong ceiling that was last hit February 3rd - buyers could not bring in enough volume to breach this last time. Floors reside at 1079.75 and 1075.50. Tomorrow is a huge news release day with 12 releases occurring pre-market. Expect a lot of volatility due to this - be careful.

Market Maker Edge Day Trading course

S&P 500 Day trading course

today opened at 1110.50 a steady rise over the weekend, which quickly gapped down after market open  dropping to quick pierce of the 1104 support, which was tested multiple times throughout the day. In late afternoon price rose to close at 1106.75, a trading range of 7 points with much volatility, even though the long term charts show this as sideways action, intraday traders saw much volatility. This is the fifth day in a row where the market opens with as sell off and then slowly gains back ground in the late afternoon. It appears that traders are artificially raising prices, then quickly selling of their positions in early morning trying to "milk" as much profit as possible, then reentering in late afternoon at the days lows. Today though shows a lower low instead of the higher high we were used to seeing on the close of previous few days. Support is still storng at 1004/1105 range, and of course the 1100. Resistance comes in at 1110/1111.

Market Maker Edge Day ! Trading course

Forex trading system news into the weekend.

Thursday, 25 February 2010 all times GMT (last release in parentheses) 0030   Australia        Q4 private capital expenditure (-3.9%) 0030   Australia        Q4 construction work done (2.2%) 0200   NZ                   January M3 money supply (-1.1% y/y) 0200   NZ                   February NBNZ business confidence (38.5) 0745   France                       February consumer confidence indicator (-29) 0745   France                       January producer prices (0.2% m/m) 0745   France                       January producer prices (-2.9% y/y) 0815   CH                  Q4 employment level (3.963 million) 0815   CH                  Q4 employment level (0.2% y/y) 0830   Italy                 February business confidence (83.2) 0855   Germany        February unemployment, net change (6,000) 0855   Germany        February unemployment rate (8.2%) 0900   Eurozone      January M3 money supply (-0.2% y/y) 0930   UK                  Q4 total business investment (-0.6% q/q) 0930   UK                  Q4 total business investment (-19.9% y/y) 1000   Eurozone      February business climate indicator (-1.12) 1000   Eurozone      February industrial confidence (-14) 1000   Eurozone      February consumer confidence (-17) 1000   Eurozone      February economic confidence (95.7) 1000   Eurozone      February services confidence (-1) 1100   UK                  February CBI distributive trades (-8) 1330   US                  January durable goods orders (0.3%) 1330   US                  January durables, ex-transportation (1.4%) 1330   US                 [...]

Forex trading - live day trading course and currency trade room.

Forex trading Lodon re cap

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3545 level and was supported around the $1.3440 level. The Federal Reserve raised the discount rate yesterday by 50bps to 0.75%, citing "continued improvements in financial market conditions" and said this move represents a "a further normalization of the Federal Reserve's lending facilities."  The Fed also announced that the maximum maturity for primary credit loans will be shortened to overnight effective 18 March and added its Term Auction Facility (TAF) program will end on 8 March 2010.  The Fed clearly wanted to show that the economy is improving without disrupting the financial markets too much. Many Fed-watchers see the move as largely symbolic, especially given the fact that there is only around US$ 14.7 billion outstanding at the Fed's discount window.  Federal Reserve Bank of New York President Dudley today said "Think of this as the last adjustment tied to the end of all the liquidity facilities.  Think of this as the last piece of that package, rather than the first piece of the new package." Speaking about the economy, Dudley added "Monetary policy is about the economy.  We need to see solid growth and job creation.  Today we got an inflation report that showed there's no inflation pressure.  So our focus needs to be on growth and jobs." Data released in the U.S. today saw the January headline consumer price index climb 0.2% m/m and 2.6% y/y while the ex-food and energy CPI rate was off 0.1% m/m and up 1.6% y/y.  These data were a contrast with yesterday's producer price inflation data that came in stronger-than-expected and today's CPI data suggest that retailers are finding it difficult to pass on price increases to consumers.  Other data released today saw Q4 mortgage delinquencies decline to 9.47% from the prior reading of 9.64%.  Some economits believe the Fed ma [...]

Forex trading - live day trading course and currency trade room.

Day trading S&P 500 emini futures live trading room and day trading course's Fan Box