S&P 500 Day Trading Course Gap For Oct 30, 2009 Learn How to Trade

Prices opened today at 1048.00, up 6.75 points though the overnight. Prices saw a small move down first thing today hitting a low of 1044.75, leaving the gap at 1041.25 open and turning to move back up from there. Prices moved slowly up throughout the day, seemingly stuck to the 13ema making the trades rather difficult. The intraday high was 1064.00 which closed the gap from Wed which was left unfilled at 1062.25, then ended the day at 1061.50. The total range today came in at 19.25 points, with the close up 20.25 points from yesterday's close.

For Fri if prices move to the upside we could see a touch up to resistance at 1067.75, from there the next level of major resistance is the 1076.00 area. If we move back to the downside we could see a retest of the 1040 level of support with possible stops at 1050.50 and 1047.50 along the way.

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S&P 500 Day Trading Course Gap For Oct 29, 2009 Learn How to Trade

Trading opened today at 1055.50, down 6.75 points from Tuesday's 1062.25 close. We traded up to 1060.25 resistance this morning, leaving the gap open as prices turned and began to fall. The rest of the day became a short position as prices fell 21.75 points right into the close, testing the 1040.00 area of support but not making it through with an intraday low of 1039.00 minutes before close and a retrace 2.25 points to close the day just above support at 1041.25.

Longer term we are looking at a test of the 1035-1036 level of support where will be looking for a decision as to where prices will go. If we break through the 1035 level of support we could be looking at a test to the 1026.50, and 1020.25 with a possible retest into the 1012.50 area which we last saw Aug 21. If we do bounce off of support at the 1035 area we could see a move back up to the 1060.00 level. My WAG is that we would see some consolidation before another test back up to those levels. Of course there is only one way to find out.... I'll see you at the starting line!

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S&P 500 Day Trading Course Gap For Oct 28, 2009 Learn How to Trade

With an open of 1066.00 today we started with a gap down at 1064.25. The morning gave us most of the action today with a run down to the low of 1057.00, then back up to the daily high of 1069.50 all by about 11am market time. Afternoon trading gave us a bit of the chop, with 2, 3, and 4 point bars showing volatility while staying within the days 12.5 point range. The close today came in at 1062.25, down 2 points from yesterdays close.
For Wednesday on the upside we are looking at at possible touch to the 1068.50, with a break through that we could see the 1075 area of resistance with an extreme high around the 1088 level. To the down side if we move through the support at 1057.00 we could see a move down to 1050.25, then 1047.50, with an extreme low at 1036.25 in the next week.
Keep your head up and your trigger finger ready! See you at the starting line!







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