Tuesday, June 29, 2010

S&P500 day trading course live room

S&P500 day trading course emini futures live trading room. [caption id="attachment_2351" align="alignleft" width="203" caption="S&P500 day trading course live room intraday"]S&P500 day trading course live room intraday[/caption] Point of Control for today is 1062 so the bears are clearly in control. 1035.25 is the extreme low we were looking for and is acting as support as seen in two previous swing lows in previous sessions. If we retrace to 1049.75 looking for this to be the short term point of control for the close. Asia set this off with numbers that were adjusted for China reflecting an economic slow down worldwide. Could see some volatility come on as Asia opens at 8:00 EST. Next major support in the 1012 area. Lots of weakness in to the previous swing low on the emini's.  Continuation of this downtrend could come later in the session. Watch out for Spain's banking concerns hitting the markets before the open tomorrow.

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Forex day trading Asian open

Forex day trading Asia Open. Asia awoke this morning in a rather bearish mood after the New York-based Conference Board said its China leading economic index rose only 0.3% in April, far lower than the 1.7% gain reported in June. With investor sentiment dampening on the news , Asian stocks went through a large selloff and are poised to close significantly lower, led by the Shanghai Composite which fell to a new year low (down 3.45%) followed by the Nikkei which was down 1.47% at the time of writing. Following the downward revision, fears that the growth prospects in a country what has been termed the engine room for the global recovery may falter have seen risk sentiment severely erode as investors flocked to the more traditional safe havens - the yen appreciated to a seven week high against the Greenback, hitting 88.61 while AUDUSD and NZDUSD both shed approximately 1% on the day. Gauging by Asia's harsh reaction to the news, the bearish mood should filter into the European trading session and should keep risk markets in check. Investor sentiment could take a further hit when the consumer confidence number reading for the Euro-Zone region releases at 9 am GMT today. Although expectations show a slight drop in the consumer confidence (a survey on Bloomberg shows the figure expected at 98.1) we will need to keep an eye out how far the number falls from the previous reading of 98.4. Earlier in the morning, data from Japan showed that industrial production and household spending slipped during the month of May. This was compounded with a slight uptick in the jobless rate in Japan (5.2% v 5.0% exp) and a lower YoY vehicle production figure (30.6% v 50.8% prev).

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