S&P500 day trading course price action

S&P500 day trading course price action in the S&P500 emini futures [caption id="attachment_3311" align="alignleft" width="254" caption="S&P500 day trading course"][/caption] Point of control is 1137.25 with first resistance at 1144.25 then 1149.75 still looking for the open gap fill at 1156.25 and a swing to the high of 1163.25-69.25 . Support is coming in at the 200 ma 1132.25-33.50 this could add some support to bounce through today's highs. No news today.  This week could get volatile as the the SEC proclaims the source of the flash crash. We do have a lower high here, so it would not be a suprise to see a move to 1127.50 area or to the previous swing low 1119.25 I will be in San Diego until Sunday. Have a great week.  Trade what you see.

S&P 500 day trading course

S&P500 day trading course new highs Dollar clobbered.

S&P500 day trading course new highs could be coming on. We are watching as the S&P500 emini future contract is pushing for a double top at 1144.75. [caption id="attachment_3300" align="alignleft" width="254" caption="S&P500 day trading course double top"][/caption] 1125.75 was our point of control for the break out on news this morning. This broke our resistant trend line and took off through our 1132.75, 1137.25 and into our 1141-43 congestion zone. London's closing will put a bit of pressure on the markets as accounts are settled and we will see a volume drop off through lunch. Watch for short term support at 1140-41 as the sellers push against the buyers exhaustion on the move up. If by 2:00 the sellers haven't moved through to 1137.25 or lower watch for consolidation into the close. If the buyers have made another push during lunch to give us a new short term high watch for the attempt to 1156.25. On another front the EURUSD is giving the dollar a beating today. Here is a chart: [caption id="attachment_3301" align="alignleft" width="216" caption="S&P500 day trading course EURUSD vs S&P500"][/capti [...]

S&P 500 day trading course

S&P500 day trading course ny open

S&P500 day trading course levels of support and resistance. Looking for some resistance at 1129.50. for the gap. [caption id="attachment_3297" align="alignleft" width="254" caption="S&P500 day trading course 9-23 moving to gap"][/caption] Looking for the approach on the resistant trend line after filling the gap. From there a move to 1132.50 then 1137.50 and an extreme high at 1156.25 if we take out the previous swing high at 1144.25. We have support 1122 for point of control on the day. Expecting major congestion to 1113.50 as we have plenty of orders to support here. 1109.25 and 1103.25 for an extreme low.

S&P 500 day trading course

S&P500 day trading course price action

S&P500 day trading course live day trading room looking at price action on the 30 min chart. [caption id="attachment_3294" align="alignleft" width="216" caption="S&P500 day trading course"][/caption] S&P500 emini future contract hit the extreme high of 1144.25 we set last week. The first resistance is 1137.25 and Point of Control is 1132.50 for direction on the day. So far the sellers have been in control. Price is consolidating between the POC and the 200 ma. Some price failure to 1127 with buyers coming in around the 1129 area. There is some support on the 200ma at 1129 with the next area of support at 1122.25 and the next area of support running to 1117.25

S&P 500 day trading course

S&P500 day trading course inverted head and shoulders daily

S&P500 day trading course inverted head and shoulders daily. S&P500 emini future as breached the neckline on the inverted head and shoulders on the daily chart. [caption id="attachment_3284" align="alignleft" width="228" caption="S&P500 day trading course 9-21 inverted head and shoulders daily chart"][/caption] The right side inverted shoulder with extension would complete at 1166. The S&P500 emini has an open gap at 1156.25, if this holds and we break below 1122 then the move will be over. Initial support and the point of control will be at the 1137.50 area. If the buyers can hold we could finish the move with in the next few days. The news, although quite misleading in content is pushing for new highs. There is further resistance at 1166, then 1178.50 then 1198.50. The longer term Point of control has been breached at 1122 and the buyers are in control.

S&P 500 day trading course

S&P500 day trading course open charts

S&P500 day trading course Lunch time NY Move on resistance for the weekly Point of control at 1133.25 This is a key area on the S&P500 emini futures contract as buyers will be gaining control for the move to an extreme high of 1156.25. [caption id="attachment_3267" align="alignleft" width="229" caption="S&P500 day trading course intraday chart price action"][/caption] We have some support at 1129-31 area as there was a volume increase in buys here.  Expecting to see some exhaustion here as the buyers re group to run at the resistance again. If the buyers loose control here, we could see a complete reversal to todays open in the after hours. Watch for news this week and maybe some pressure out of Europe as Ireland pops onto the pressure on the Euro, this could also push the US market down as dollar gets a bit of a rally. Normally, there is an inverse relationship between the two, we could see a bit of  "deCoupling" as this intiallly occurs. Trade what you see.

S&P 500 day trading course

S&P500 day trading course NY close daily chart

S&P500 day trading course NY close the daily chart on the S&P500 emini futures.  Getting ready for a roller coaster here as the emini is moving against resistance and about to break through to new short term highs. [caption id="attachment_3261" align="alignleft" width="250" caption="S&P500 day trading course daily chart NY market close"][/caption] From early May we have seen decreasing volume into the summer season where traders are normally taking off.  We are now into the second week of September, which is where we seasonally experience increases in volume into the more volitale months of October and early November. 1127.50 is the point of control for the bulls to take this to the resistance around 1156.25. This is our 2nd target on the move up from POC at 1049.25. If we break the 1169.50 resistance then we are looking to 1200 for the next area of consolidation.  We could see this in Mid- October as the next round of quantitative easing hits the market.  It doesn't look like the government will let this wash out. Support in the S&P500 emini futures market is coming in around the 1111 area with continued downside support that will come in at the psychological 1100 mark, then 1049.25.  If we get a break under the 1080.50 mark I would watch for some consolidation at 1062.75 then 1049.25 to 1036.75. I would add these levels to your long term charts to look for short term reversals and areas of consolidation. Trade what you see.

S&P 500 day trading course

S&P500 day trading Course price action

S&P500 day trading Course price action it looks like there are tails on a weekly chart hitting support on the 1037.50 range with price failure into the support on the inverted Head and Shoulders.  The Point of Control 1056.25 [caption id="attachment_2990" align="alignleft" width="202" caption="S&P500 day trading course price action "][/caption] Open Gap 1049.50 Support at 1056.25 , 1047.50, and extreme low of 1036.75 which is also the support of the inverted Head and Shoulders on the daily and weekly. We have resistance at 1062.75 then previous swing high at 1072.75. News is coming out at 10:00, watch your self.

S&P 500 day trading course