Friday, September 24, 2010

S&P500 day trading course new highs Dollar clobbered.

S&P500 day trading course new highs could be coming on. We are watching as the S&P500 emini future contract is pushing for a double top at 1144.75. [caption id="attachment_3300" align="alignleft" width="254" caption="S&P500 day trading course double top"]S&P500 day trading course double top[/caption] 1125.75 was our point of control for the break out on news this morning. This broke our resistant trend line and took off through our 1132.75, 1137.25 and into our 1141-43 congestion zone. London's closing will put a bit of pressure on the markets as accounts are settled and we will see a volume drop off through lunch. Watch for short term support at 1140-41 as the sellers push against the buyers exhaustion on the move up. If by 2:00 the sellers haven't moved through to 1137.25 or lower watch for consolidation into the close. If the buyers have made another push during lunch to give us a new short term high watch for the attempt to 1156.25. On another front the EURUSD is giving the dollar a beating today. Here is a chart: [caption id="attachment_3301" align="alignleft" width="216" caption="S&P500 day trading course EURUSD vs S&P500"]S&P500 day trading course EURUSD vs S&P500[/capti [...]

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