Learn how to day trade S&P 500 emini futures day trading education coach showing, live day trading room, Forex, Gold, Oil Market as we see it. Trends, Money makers and market makers. See at as traders that make money. ES and the Eminis. Intraday Charts and Articles by emini futures day trading coach Joel Wissing.
[/caption] Basket orders took us down this AM off the open into support at 1069.75 which is the point of control for today. Bulls are going to have to keep price above this area. It looks like we have had a bit of price failure or testing to the down side. Further support at 1062.50 and 1050. If we bounce up from here we are looking at resistance at 1075, 1080.50, and then 1090.25 . 
[/caption] A Hindenburg Omen is an indicator that is a technical analysis pattern that supposedly shows up prior (just) to a stock market crash based on the NYSE. New York Stock Exchange. It is based on a large number of stocks hitting annual highs as a large number of stocks hit annual lows. The Hindenburg omen basically shows new lows and downside risk. Here is the scoop: The probability of a downside move over 5% is 77%. Pretty nice odds. Zero hedge has a break down and some information 
[/caption] Point of control for the day is 1080.50. In the overnight session of the S&P500 emini we have tested down to 1070.50 where we can see some support coming in. Below this we have an extreme low support of 1036.75 and one more at 1050.25 where we can have some previous consolidation. 1088 and 1119.25 are two open gaps to the upside. High probability of getting one of these. Volume on the daily has increased and as usual the increase in volume takes us down. This could be a short term test down and the key will be through the prior swing low of 1050.50. This is the level where the bulls will have to put in or else the next move down could be large. 
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