Thursday, August 12, 2010

S&P500 day trading course NY open

S&P500 day trading course NY open looking at support and resistance for the morning. It looks like the market still has down side bias. [caption id="attachment_2447" align="alignleft" width="220" caption="S&P500 day trading course NY open"]S&P500 day trading course NY open[/caption] Point of control for the day is 1080.50.  In the overnight session of the S&P500 emini we have tested down to 1070.50 where we can see some support coming in. Below this we have an extreme low support of 1036.75 and one more at 1050.25 where we can have some previous consolidation. 1088 and 1119.25 are two open gaps to the upside.  High probability of getting one of these. Volume on the daily has increased and as usual the increase in volume takes us down. This could be a short term test down and the key will be through the prior swing low of 1050.50.  This is the level where the bulls will have to put in or else the next move down could be large.

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