Thursday, March 4, 2010

S&P 500 Emini Day Trading Gap Friday March 5, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2089" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Friday March 5, 2010"][/caption] S&P Emini 500 Futures should have a big day tomorrow. The non farm payroll will be released pre market Friday, and that usually results in high volatility as traders attempt to digest the impact of the numbers. Often, the best advice is to stand aside initially and let things shuffle out.

S&P 500 day trading course

Goldman Sachs controls the world. Video

This is an interesting look at Goldman Sachs. Beware, not for the weak. Watch at your own risk.

Market Maker Edge Day Trading course

S&P500 day trading course mid day head and shoulders

S&P500 day trading course looking at a Head and Shoulders on the hourly chart. We are caught between 1118 and 1120, in long term consolidation. Watching for a head fake then a counter move to give us the momentum to break out. 1124 target or 1114 target. Higher low points to higher high but the symetrical pattern into the break out is either direction. 2:00 could be the key. Gap closed for the day. [caption id="attachment_2086" align="alignleft" width="280" caption="S&P500 day trading H&S"]S&P500 day trading H&S[/caption]

S&P 500 day trading course

S&P 500 Day Trading Course Gap for Mar 4, 2010 Support and Resistance

After another day in the consolidated books, trading moved a slightly higher 9.5 points through Wednesday's trading.  Prices did hit resistance in the 1125 area, where price tested and failed moving back into the sideway channel we have been stuck in for the last 3 days.  Volume was low again with only about 1.56M through the day. Thursday I am watching for signs of a continuation back down, or another move up.  This sideways trading is a market in decision so be ready when the decision comes.  If we decide on changing direction I am watching for a move back to 1106, then 1100, and 1093.  Should market makers move prices through the 1125 resistance, I will be looking for 1127.25 and 1138.75 as the next targets.  Remember to get good confirmation, we are not necessarily out of the consolidation yet.   A lack of Volume may keep this market right where it is for another day or two.  Only one way to know. See you at the starting line!aa

S&P500 day trading course

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