S&P 500 Day Trading Course Gap For Jan 13, 2010 Learn How to Trade

Trading began the day at 1135.25, with prices trading to a high of 1137.75 by around 10am market time. From there prices traded back to the downside, moving down to 1127.75 before spending the rest of the day trapped in a 3 point range of consolidation between 1129.00 and 1132.25 closing the day at 1132.00. The range for the day was 10 points while the gap at 1143.00 from Tuesday was left unfilled.

Watching for prices to decide on the trend in the next day or two, the last few months have been giving us as ascending wedge pattern which we are into the end of. If we have prices move down through 1127.50 and continue to the downside we could be looking at a breaking of the supporting trend line and a possible change in direction with the next level of support in around the 1112.50 area, an area we struggled with for a while before we finally made it through. If prices do not move down they could move back up to retest the 1150.00 area, where if moved through would give us a continuation off of the supporting trend line and bring us out of the ascending wedge into a new channel of trading ranges.

S&P 500 day trading course live room emini futures education coach levels of support and resistance for, http://www.tradingonlinemadeeasy.com with break outs, break downs, point of control in live day trading room. The Money Maker Edge™ system.

S&P 500 Emini Day Trading Gap Wednesday January 13, 2010

                                  S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Wednesday January 13, 2010

S&P Emini 500 Futures gapped down 7.75 points this morning.  The gap never filled and is the first overhead gap in quite a few weeks.  Seven unfilled gaps lie beneath the current price range, and leaves open the possibility of a correction to those levels.  Today's down market on good volume is a clue as to longer term direction.   Prices are coming off of overbought conditions in all time frames.  Look for initial testing of the 1100 level if declines continue on heavy volume.  If prices turn back to the upside, look for a test of 1150.  A break above that level on volume would indicate a continuation of the up trend.  For day traders, the return of volatility to the market is welcome.

S&P 500 day trading course

S&P 500 Day Trading Course Gap For Jan 11, 2010 Learn How to Trade

Trading opened today at 1134.25, down 3.25 points from Thursday's close. Prices traded to a low of 1132.00, then turned and started to move up from there. Prices floated up to a high of 1141.75 moments before close, then closed trading for the weekend at 1141.50. The day's range was 9.75 points while the gap at 1137.50 was filled.

Watching for a possible touch back to the 1135 area, then 1130.50 with an extreme low of 1125.25. For the upside we could see a push up as high as the 1150 area however with out a large increase in volume this would be unlikely.

S&P 500 day trading course live room emini futures education coach levels of support and resistance for, http://www.tradingonlinemadeeasy.com with break outs, break downs, point of control in live day trading room. The Money Maker Edge™ system.