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

Wednesday trading opened at 1108.00, up 3 ticks from Tuesday's 1107.25 close. Prices traded up from open to test the resistance in the 1112.00 area where it pierced with a high of 1115.50 but could not continue. Prices changed direction and moved back down into our 8 or so point range of consolidation between 1104.00 and 1112.00. Prices bottomed out at 1104.25 and traded the rest of the day within the fence to close the day at 1108.00.

Still watching the 1112.50 area with 1115.50 now the new high. Looks like Vol will have to break over 1.7 million contracts to get enough of a move to break the consolidation. On the low side we could see some retesting of the 1104.00 area then 1100.00 and 1091.25 from there.

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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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S&P 500 Day Trading Course Gap For Nov 26, 2009 Learn How to Trade

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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