Wednesday, February 9, 2011

S&P500 day trading course price action

S&P500 day trading course price action [caption id="attachment_3501" align="alignleft" width="275" caption="S&P500 day trading course"]S&P500 day trading course[/caption] Point of control is 1318.  Our gap is 1321.75. Support is coming in at 1316, 1309, 1300 on the 50 MA.  Looking for upside targets 1323 and then resistance to come in 1329, 1335, and 1339. It looks like we are getting in a tighter range.  If we see price failure we could be setting up to test the supporting trend line at 1310 and even a retest of the 1300 area.  This would not break the bullish trend.  A move past 1289 would be testing the longer term control but with POMO and the Fed buying in it could be another area to get in on the bullish channel.

S&P 500 day trading course

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