[/caption] The S&P500 emini futures contract is in a consolidation zone from 1308-1314. The point of control is 1312 with buyers in control above here and sellers in control below here. The first level of support we are seeing is at 1309 then 1304 which is just under the 200MA. The next area of support is at 1294 and then 1279.75. It would not be unusual to test down to 1294.75 vefore a larger move up to 1331 and a double top at 1338 (previous contract level of 1342. We hae resistance at 1316 for a break out to new highs to 1322.50 and then a move to 1331. Remember with QE3 in full effect and the purchasing of Bonds we are going to keep seeing support in the market. The invisible hand is giving us lift even in this low volume environment. Don't be surprised to see new highs coming in through April. We will be having a day trading course in Calgary April 16-18 with an advanced trading day on the 19th. Our course has many high impact learning activities that will give you the edge to trading the markets. Join us. S&P 500 day trading course
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