Day trading course bearish channel support.

S&P500 emini futures is in a consolidated range for Day trading.  We have been in a bearish channel and our now consolidating off of support. [caption id="attachment_3818" align="alignleft" width="300" caption="Bearish Channel support"][/caption] Point of control is 1317.75.  with a very close first resistance at 1321.50.    It will be tough to get through here and price might have to test down first to build up some momentum to get through. Support coming in at 1311 and then 1302. If we break through the resistance at 1321.50 the next resistance will be 1329.50 then 1340 and 1345 the previous swing high. Our extreme high will be 1357. May starts the move down before the September-October rally.   This is not a rule though, just a higher probability.  We of course are watching for QE3. We could be having another day trading course close to Calgary this June. I will keep you informed.  Trade what you see.

S&P 500 day trading course