S&P 500 Day Trading Course Nov 30, 2009 Learn How to Trade

Watching as trading resumes in full swing on Monday. We had a 30 point sell off down to 1078 area after the 1108.75 close on Wed. Prices have now made headway back to the 1094.00 level of resistance and we will have to see come open Monday morning where we are sitting.

Watching for prices to have a possible retest of the 1110.00 area on the upside where we are waiting to see if the buyers will move through resistance. On the low side we could see prices resume the sell where we are looking at support in the 1080 and 1068.50 levels. If we can make it through these levels we could be looking at a new trend in the longer term charts.

Of coarse there is only one way to find out. See you at the starting line!!

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Trading resumed today at 1106.50, up 1.75 points through the overnight. Prices traded to a low of 1103.25 this morning, then turned and traded up to a high of 1110.25 around 3pm market time. Prices then closed the day at 1108.75, giving us another day of consolidated trading and a tight 7 point range.

Prices are still battling resistance leaving us with these tight ranges and choppy moves. Volume was down today as prices traded up giving us an indication to watch for another possible sell off if the aggressive buyers don't make their move and bring prices through resistance.

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Trading opened at 1105.00 today, up 3 ticks through the overbought. Trading started to the down side today, filling the gap quickly and hitting a low 1095.00 around 10am market time. From there prices moved back up to a high of 1106.75 this afternoon, giving us a range of 10.75 points and closing at 1104.75. The day in all was rather consolidated with no momentum moving through our previous points of congestion.

With a slight increase in buyer volume today we are still failing in the resistance of new highs. Still watching the 1112.00 area for a break through, or reversal to set the head and shoulders formation for our next move over the rest of the week. See you at the starting line!

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Trading opened today at 1102.75, up 12.5 points from Friday's close. Prices moved to the upside this morning trading to a high of 1111.50 by about 10am market time, from there prices turned and moved back down 10.25 points to a low of 1101.25 shortly before close. Prices then relaxed slightly to close the day at 1104.25, up 1.5 points from open and 14 points up from Friday's 1090.25 gap.

Looking for a confirmation in direction over the next day or two. Market makers will have to decide on where to take the market from this point. On the daily we are looking at a decision between a head and shoulders formation and a continuation to the upside. Prices once again tested the 1112 area today and failed, leaving us watching for a sign of direction yet one more day. Prices could consolidate here with continued tight ranges for a day or two more before a decision is reached. Keep your eyes open, it's all on the charts.

See you at the starting line!

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Trading opened on Friday at 1087.50, down 5.5 points through the overnight. Prices moved to hit the high of 1092.75 for the first time just before 10 am market time, when prices reversed for the rest of the morning's trading. Prices hit their 1085.25 low at about 11:30 am market time, where they tested support and failed move through. Trading closed at 1090.25, trading a very consolidated 7.5 point range and leaving the gap open at 1093.00.

For Monday we are watching to see if price will break the resistance at 1106.00. If it moves up through there we could see retests of the 1112.50 levels of resistance. On the low side, if prices fail at 1106.00 and begin to move back down we will see price move to retest the 1094.25 area then the 1086.00 levels of support.

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Trading opened at 1101.00 today. Prices then hit an immediate high of 1101.50, then turned and began their decent. Prices moved down 15 points to a low of 1086.50 shortly after 11am market time. The afternoon consolidated in a 7 point range, then closed the day at 1093.00 down 14.5 points from yesterday's close.

For Friday we could see prices move to test the 1083.00 area of support that we tested about a week so so ago. If we move through support we could see prices move to 1076.50 with an extreme low at 1067.50. On the upside we could test retest 1101.00, then possibly 1112.50 from there. I'm thinking that the sell off would be a little more fun!

See you at the starting line!

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Trading opened Wednesday at 1107.00, down 1.5 points from Tuesday's close. Trading moved up 2.5 points the first part of the morning hitting a high of 1109.50 just in time for the 10am reversal. Prices then made an 8.75 point decent between 10 and10:30 to the low of 1100.75. The day remained quite consolidated into the close, with a close of 1108.00 down only 2 ticks from previous day's close. The range for the day came in at 8.75 points, while the gap was filled.

For Thursday we could see prices retest the 1085.50 levels, with smaller support in at 1097.00 and 1094.00. On the up side we could see prices retest the 1110.00 area, but without some commitment on the buyers side it doesn't seem likely to break through the 1112.50 resistance. The market looks to be in the overbought condition, and has been for about a week or so. I am watching for a possible sell off going into the weekend.

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Trading opened today at 1099.50, up 8.25 points through the overnight. Trading hit the low of 1098.25 within minutes of open, then turned and moved up from there. The high today was 1112.25 while trading closed the day at 1107.00. The intraday range was 14 points, while the gap at 1091.25 was left open.

For Tuesday, on the upside we are watching for prices to possibly test the 1120.00 area, while on the low side we could see price retest 1091.25, then the 1086.00 level after that.

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S&P 500 Day Trading Course Gap For Nov 15, 2009 Learn How to Trade

Trading opened Friday at 1088.25, up 3.25 points from Thursday's close. Trading opened to hit the low of 1082.75 just in time for the 10am reversal today. Prices then moved their way up into the early afternoon hitting a high of 1096.00 shortly before 1pm where they once again reversed into the close. Prices closed today at 1091.25 giving us a range of 13.25 points and a close up 6.25 points from yesterday's.

Watching price tomorrow as we open the week, we could retest the 1101-1103.50 range again before deciding on direction from here. Once again prices have moved up 77.5 points on decreasing volume as the invisible hand prods prices up. With this kind of commitment, even a relatively small move on the sellers side could see prices start to move back down. Remember what takes time to build without commitment is usually undone in about half the time.

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Trading opened Thursday at 1094.00, down 2.75 points from Wednesday's close. Trading moved up for the better part of the morning to a high of 1101.00 where prices met resistance they couldn't break though. Trading moved down from there throughout the rest of the day to a low of 1082.50 shortly before close, then relaxed to a close of 1085.00. The day's range came in at 18.5 points while the gap at 1096.75 was filled.

For Friday prices could see a retest of the 1101.00 area with an extreme high in the 1115.00 area. On the down side we could see prices move back to retest the 1076.00 level, and with a push through there even 1067.25 or an extreme low of 1060.00

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S&P 500 Day Trading Course Gap For Nov 11, 2009 Learn How to Trade

Trading opened on Tuesday at 1087.25. Prices saw a high of 1094.75 today with a low of 1085.00, giving us a 9.75 point overall range for the day. Prices closed the day at 1091.25, while the gap from Monday at 1091.00 was filled.

Watching for a retest of the October high of 1099.50. Prices are moving up with decreasing volume again, as well as moving into the overbought position. Without an increase in buyers to keep the commitment prices will not sustain this move up and we will see another sell off. However, so far price is still trading within the up-channel we are in from early this year.

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Trading opened today at 1052.00, up 8.5 points from Wednesday's 1043.50 close. Trading hit the days low of 1049.50 within the first 10 min of trading today, then turned and moved up from there. Higher lows seemed to be the story for today as prices moved their way up 14.5 points to the high of 1064.00, retesting the resistance at 1063.75 only about a half hour before close. Prices closed the day at 1063.50 today, up 20 points from yesterday's close.

Watching to see where prices move from here. We are starting the formation of the head and shoulders on the daily, prices could move into some consolidation between 1060 and 1078 to continue the trend. If prices move up we could see a touch to the 1077 area of resistance, then 1085.75 after that. Only the down side we could see a move back down to 1057.50, then 1040 and 1036.25.

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Trading opened today at 1050.50, up 8.5 points through the overnight. Prices traded to a high of 1058.50 early in the afternoon, then turned and headed down 17 points to a low of 1041.50 within a few minutes of close. Today's trading closed at 1043.50, up 1.5 points from yesterday's close.

For tomorrow on the upside we could see a retest of the 1050.50 area or even the 10670.25 levels of resistance. On the downside we could see prices retest the 1026.50 level with an extreme low in the 1012.50 area.

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Trading opened at 1032.00 this morning, down 6.5 points from Monday's close. Prices traded back and forth today, giving us a bit of the chop but still moving enough to get some moves. Prices hit their low of 1030.75 right out of the gate today, then up and down a few times in the 12.25 point range giving us a high of 1043.00 around 2pm where prices tested resistance. Trading then closed the day at 1041.00, up 3.5 points from previous day's close.

If we move up tomorrow watching for a test of the 1050.50 level, then the 1057.25 and 1061.00. If prices move down we could be looking at retesting the 1035.00 and 1026.00 levels.

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S&P 500 Day Trading Course Gap For Nov 3, 2009 Learn How to Trade

Trading opened for the week this morning at 1036.50, up 5 points from Friday's 1031.50 closed. Trading took a run up this morning to our high of 1049.50 shortly before 11am market time, tested the resistance then turned and moved back down. Prices traded down 23.5 points to a low of 1026.00 by about 1pm where they met support, then tested again around 2pm. Trading closed the day at 1031.50, down only 4 points from open and the same close as Friday.

Possible retest in the 1047.50-1050.00 area tomorrow, with 1063.00 as the next stop and an extreme high at 1068.00. To the low side we could see prices move to 1020.75, then 1012.50.

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S&P 500 Day Trading Course Gap For Nov 2, 2009 Learn How to Trade

Trading opened today at 1057.25 down 4.25 points from Thursdays 1061.50 close. Trading took us to a high of 1061.75 within the first 15 min, just high enough to close the gap, then turned to fall for the rest of the day. Prices traded down 32.25 to an intraday low of 1029.50 shortly after 3pm market time. Prices relaxed slightly to close the day at 1031.50, down exactly 30 points from yesterday's close.

For Monday on the upside we could see a touch back up to the 1057.75 area with stops at the 1040.00, and 1047.25 areas of resistance along the way, with an extreme high around 1068.00. On the short side if prices move through the 1029.00 level of support we could see prices move to the 1020.00 area, then a possible retest of the 1010.50 level of support from back in August.

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