Day trading course SP500 Day trading tips price action Low volume Monday, Day traders are stepping aside and the market is floating up. [caption id="attachment_3759" align="alignleft" width="300" caption="Day trading couse S&P500 day trading tips"][/caption] The point of control for the day is coming in at 1343.25 where price is bouncing on the 200MA. Looking at a Consolidation zone from 1339-45 and buyers are testing to the upside but not breaking out of this zone. First resistance is 1349, 1355.75 then 1361 with an extreme high at 1374.25. Expecting a low volume Monday with a test down to support. 1st support coming in at the 50MA around 1339 then 1334.75 previous swing low and then further support at 1325 then 1320. We do have a inverted Head and shoulders forming and a Higher low that could give us our upside target of 1374 during this week. We will be having a day trading course in Philadelphia May 21-23, Los Angeles June 11-13 and Montreal July 9-11. Join us if you can.
S&P 500 day trading course
Monday, May 9, 2011
Day trading course Silver Consolidation to $40
Day trading course Silver Consolidation to $40. The Silver market has been quite fun this past week as Sellers faced new margin limits and some of the biggest shorting positions have been played out. [caption id="attachment_3755" align="alignleft" width="251" caption="Day trading course Silver day trading tips"][/caption] Silver showed support at 33.03 as the swing low, many buyers stepped in at the $34 mark. $37-38 is providing some resistance on the retracement. $39.50 is the next area of resistance and then $41.50 which about a 50 % re tracement of this past weeks price action. Watch for a formation of a bear flag with a small sell off to the 34-36 area. If buyers take it through here, we can see an area of consolidation moving to the 50% retracement. Watch out for headfakes during the slow periods. Remember low volume can have very quick moves as there are not many orders on the side lines.
S&P 500 day trading course
S&P 500 day trading course
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