Wednesday, March 16, 2011

Day trading course S&P500 long term targets chart

Day trading course S&P500 emini futures longer term charts looking at support and resistance. [caption id="attachment_3594" align="alignleft" width="300" caption="Day trading course long term targets S&P500 day traders"]Day trading course long term targets S&P500 day traders[/caption] Support has come in at 1243 which was previous extreme low.  Next extreme low coming in at 1210.  If we break to these levels and stay below 1265 then we might start the second of three legs down with 80 more points down targeted from a retracement. 1259 is a key price for buyers to get back in control of direction. We shall see in after hours this evening as Asia markets open and the Nikkei sets the tone.  Remember after hours there is low volume and some times there is alot of volatility on news. Seems like Europeans are basically pointing the finger towards Japan so no one will notice all the problems there.  A little misdirection. There will be a bit of resistance at 1252-55 and then 1269 and 1275. Day trading course in the S&P500 emini futures. Trade what you see, and watch out for the news.

S&P 500 day trading course

Day trading course Challenging support S&P500 chart

Day trading course, S&P500 emini futures are challenging the support as sellers move back in.  We consolidated at the lows during lunch as sellers make a weak attempt at breaking support. [caption id="attachment_3586" align="alignleft" width="289" caption="Day trading course sellers challenge support"]day trading course S&P500 challenges support[/caption] Looks like a break of these lows will be coming on with this sell off. next stop 1247. 1239 extreme low. Watch  for the volatility.

S&P 500 day trading course

Day trading course S&P500 day traders "Sky is Falling"

Day trading course S&P500 emini futures day traders.  The EU did a chicken little this AM throwing panic into the S&P500 emini futures.  Their comments:
  • EU Energy Chief says possible catastrophic events in next hours
  • EU's Energy chief says situation at Japan nuclear plant is out of control
Glad the EU's Energy chief was working to instill calm and suggesting pro active measures for the safety of the Japanese people. The next comment might look like this,"  RUN FOR YOU LIVES, ALL IS LOST!"   yet when we look at the EU financials everything is under control and "we see the euro as very stable" Here is the chart of the 20 point drop on the ES.  S&P500 emini futures. [caption id="attachment_3581" align="alignleft" width="289" caption="S&P500 day traders EU commisioner says Sky is falling."][/caption] Certainly was a beautiful mid term double top at 1282.75 with lower highs into the open this morning. We blew through support at 1268 when the EU Energy commission decided to sound off the sirens. Low of 1256.  going to stay on the side lines as this news driven volatility is bad on stops. Could be going into a bearish pennant on longer term charts. With the Fed behind the bond purchasing this week, would expect this to rally on light volume. The real determinate will be what we see with the Japanese Nuclear plants. Japan is in a real mess with its economic capital still in shambles, homes still don't have running water, roving brown outs, a complete lack of power and [...]

S&P 500 day trading course

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