Tuesday, March 16, 2010

S&P 500 Emini Day Trading Gap Wednesday March 17, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2114" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday March 17, 2010"][/caption] S&P Emini 500 Futures gapped up 3.50 points this morning, that filled when prices retreated to within a tick of yesterday's close.  Traders pushed the futures through the 1150 mark at 11:00 a.m. on big volume.  The magic level became support, as the market tested, pierced then held above it until the close.  The bearish volume spike in the last five minutes is to be expected when prices close above psychological resistance.  The index is still overbought, and could experience a move below 1150.  A move below, then a move back above on heavy volume could validate a resumption of  the up trend begun March 2009.  Volume was average at 2 million contracts.  The index marked a new high for the year, and a new high since March 2009.

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EURUSD forex trading 1.3780 to 1.38 resistance

Forex day trading course EURUSD trading 1.3780 to 1.38 resistance.  You can see here that the resistance here is the tell tale for direction, if we turn below 1.37 then down we go.  1.3780 is the first level of resistance the 1.38.  If we can close above 1.3815 then we are testing up to 1.3920 level. [caption id="attachment_497" align="alignleft" width="235" caption="Forex trading system 1.38 resistance currency trading"]Forex trading system 1.38 resistance currency trading[/caption]

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S&P 500 Day Trading Course Gap for Mar 16, 2010 Support and Resistance

With another day of tight trading, prices moved a total of 10 points through the day on less than impressive volume again.  Only 1.41M contracts were traded through the day, still another sign of the struggling market with do where to go.   For days now price will test resistance at the top and back off, testing the waters but not jumping in.   For the moment I feel that there is not much to do but be patient and wait.  Watching for the market makers to make their move, and put some direction back into this slow and seemingly confused market.  aa

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