Wednesday, December 15, 2010

S&P500 day trading course Dec 16 price action

[caption id="attachment_3431" align="alignleft" width="300" caption="S&P500 day trading course price action"]S&P500 day trading course price action[/caption]S&P500 day trading course price action on S&P500 emini futures contract area of support and resistance. Point of Control is 1232.50 as sellers engulfed the previous buyers move up off of support at 1230. Watching for a move off of 1229 to 1235 and then a continuation to previous highs for the weekend. Don't forget about the invisible hand. If we do break support at 1230 then the next level of support is 1221 then 1214. Looking for an extreme low at 1207. Resistance is coming in at 1240-2 with 1249-51 and then an extreme high at 1265, probably coming in this next week before Christmas.

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