Sunday, June 13, 2010

S&P500 day trading course Daily chart pre market

S&P500 day trading course Daily chart pre market. [caption id="attachment_2333" align="alignleft" width="197" caption="S&P500 day trading course Daily chart pre market"]S&P500 day trading course Daily chart pre market[/caption] 1080 was the Daily Point of Control for Friday and we closed above it.  It was a light volume day with a small bullish range. The world cup probably had a major effect as most of the trading houses were watching the game. 1087.75 is the 200 EMA which professional traders use as a basis for congestion between here and the 200MA which is coming close tot he 1100 Mark.  I am expecting a test up.  If we close above the 200 MA then looking for a futher move to the 1139.25  resistance.  It seems that we are completely missing a high volume rally and that most of the market makers are in short term positions probably hedging into all buys. Summer seems to be setting in, I hope we don't see a summer volume drop off.

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