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"][/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

Day trading course Bear channel holds

Day trading course Bear channel holds on the S&P500 emini futures.  Day traders are holding this channel with sellers in control.  The Point of control is 1324 . [caption id="attachment_3797" align="alignleft" width="300" caption="day trading course bearish channel holds"][/caption] Support is 1318 then 1312.  As mentioned if we get below here then we are going to test towards the previous swing low. Expecting a push down to the supporting trend line.  We have been in a bearish channel for two weeks since the top was reached on Bin laden's fatality. Going to watch this consolidate in this area to 1300 long term.  We have resistance at 1324, 1327 1332 and 1336 as we approach the top side of the bullish channel.  

S&P 500 day trading course