Wednesday, January 5, 2011

S&P500 day trading course price action after ISIM

S&P500 day trading course price action after ISIM.  The S&P500 emini futures contract moved back above the previous session highs at 1272.25 and a close at 1272.50. [caption id="attachment_3452" align="alignleft" width="262" caption="S&P500 day trading course close price action"]S&P500 day trading course close price action[/caption] Tomorrow's Gap  1272.50 Point of control  1269.50 pointed out last week, congestion zone from 1258 to 1275 until we get some commitment. Buyers ended the day in control, looking for an overnight drop to test previous point of control at 1265 and then depending on the priced in effect of the news, a move back up. If buyers don't start accumulating at these levesl then could see a test down. Support coming in 1255.50- 1257 then further support at 1250 Extreme low target of 1230 on bad news (Doubtful) Still in this bullish channel.  Watch out for the volatility around the news.

S&P 500 day trading course

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