Tuesday, August 3, 2010

S&P500 day trading course emini futures NY lunch to close

S&P500 day trading course emini futures NY lunch time and the market is stalled in the low volume move up. [caption id="attachment_2418" align="alignleft" width="236" caption="S&P500 day trading course daily aug 2 chart"]S&P500 day trading course daily aug 2 chart[/caption] Market is slow so I wanted to post some targets for the S&P500 emini futures contract and show a possible price action. The Market is in a bullish channel with an extreme high target of 1165.  I am looking for 1065 the open gap and then a turn from here in the zone between the two. First area of resistance is 1133.75 then 1145. Since breaking the bearish channel at 1080.50 the market has moved up on lower volume.  The first two weeks in August historically have had lower volume and if this past year is any indication of market performance we will probably see this move up. The market's point of control for today is 1119.75 and we will probably consolidate around this area through to the close.  A doji on the day would be par for the course. 1108.25 is the first area of support but as we have seen over the past few weeks we will probably get a little bit of consolidation and then a break out from this zone.   The psychological support of 1100 is also there as bulls fight to keep this going up.  1080.50 is the extreme low in a sell off and expect to see some support in the 1093-97 zone and the 1087-89 zone. [caption id="attachment_2424" align="alignleft" width="124" caption="Montreal S&P500 day trading course "][...]

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