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] Looking at the S&P500 emini futures contract on a 240 min chart we can see that even with the news the price action stayed contained with in the supporting and resistant trend lines on the longer term time frame. Point of control on the day is at 1193.75 Sellers were in control for most of the day. 
[/caption] The market today has a Point of Control 1185.25 with first support at 1180.25 then 1177.25 and low side target of 1168.50. We are seeing multiple attempts on 1193 and have been consolidating in a ten point range. If we break through this short term high, probably on the news or some other outside event as mentioned above, looking for resistanc [...] 
[/caption] This past week we have seen a double top on the S&P500 with resistance at 1193 . The move down from the high has seen a bit of support at 1180 , and 1175 with price failure and a move back to 1180. We have a fourth attempt at the resistant trend line in this bullish channel with shallow pull backs. Support is coming in at 1174.50 and the next major support at 1167 followed by 1158-59.75 Resistance is of course coming in at our previous swing high at 1193, then 1197.50-98 . Even Obama is cheering for the break of 1200, with his full press of cheerleaders led by Ben. This could be the psychological break of the ceiling that could push the S&P500 to new highs. We could see a slight retrace to 1156, but the next move up could place us around 1344. If this occurs the 1100- 1350 trough could last for literally years. 
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