Tuesday, May 17, 2011

Day trading course Bounce off of support

Day trading course - bounce off of supporting trendline on the Bearish channel.  12 point move back up. We are above the Point of control for the day but buyers are weak. [caption id="attachment_3801" align="alignleft" width="300" caption="day trading course bounce off of support"]day trading course bounce off of support[/caption] Buyers have barely taken control of the S&P500 emini futures contract in the last hour of trading.   The bearish channel is still in tact. support off of 1318 to resistance around 1328 has given us a ten point zone to scalp in. Nice price action for the entry off of 1316-18. Sellers could take this back going into the close.  Euro has been strengthening and consolidating at the top. Tomorrow and thursday will give us some more direction if we can break the channel to either side.  

S&P 500 day trading course

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