Day trading course S&P500 weekly chart Day trading

Day trading course S&P500 weekly chart Day trading watching the S&P500 emini futures contract on the weekly chart.  Day traders are watching these levels and taking a break today after the past few days of movement.  We had a very low volume cross the board. [caption id="attachment_3610" align="alignleft" width="300" caption="Day trading course S&P500 weekly chart Day trading"][/caption] Watching 1278 to 1301 as a congestion zone on the weekly.  This is framed by two points of control. If day traders sell this below 1278 then the sellers will be in control.  If day traders buy this through 1301 with a close on the weekly then the buyers will be back in control. The 50 Ma is moving up and pretty close to crossing 1200.  This is a great area of long term support.  If price goes through here we would be looking for a sell off. We have resistance comin in at 1327 and also at the previous swing high of 1342. Watch out on the news as Japan, Oil, Libya, Egypt and Europe credit spreads could be cycling through the market. We have had our eye off the ball as the international news has kept us from focusing on the larger picture of our Money Supply and the crazy antics of our Keynesian Money party.

S&P 500 day trading course

Day trading course daily targets S&P500 day traders

Day trading course S&P500 day traders targets on the 240 min chart.  S&P500 emini futures contract support and resistance. [caption id="attachment_3606" align="alignleft" width="300" caption="Day trading course targets S&P500 day traders"][/caption] Our call for a rally on Monday was right on the nose with all targets filled on this move up from the point of control at 1285. The S&P500 day trading course has set targets for resistance at 1294.50, 1299.25 and 1308.25 just above the 200ma, for an extension of this AM move up. Day traders can see we have support in at 1289 then, 1285 on point of control and 1281 on a retracement from the swing low at 1272. If buyers are losing commitment on this move up we could see some of these support targets coming on. Japan's market is closed on Monday for a National holiday so some of the volatility will be out for the day.  Watch in the evening as the Nikkei opens and we could see some movement on the S&P500 futures contract on the low volume.  Watch out. Don't get caught in an after hours open if there is move bad news on the reactors.  There are a lot of speculators that looking for Japan and Insurance companies to bring dollars in to pay for the destruction so Market Makers are hammering the YEN.  Central Banks are stepping in, but futures market in Yen is getting hammered with large holds against the currency.

S&P 500 day trading course

Day trading course price targets S&P500 day traders

Day trading course S&P500 day traders price targets on the S&P500 emini futures Friday mid afternoon session. [caption id="attachment_3603" align="alignleft" width="300" caption="day trading course targets friday mid session S&P500"][/caption] We are still in a bearish Channel and have yet to test the resistant trend line.  We have moved through a 61% retracement and are looking for closing targets around 1285 on the upside or 1272 on the downside. Day traders have consolidated the price action around 1278-80  with some price failure to the upside. The commitment of buyers at this time is weak and might need to retest the support at 1272-1270 sto then make a move back up on Monday or Tuesday this next week. Remember financials are not connected to the economy when corporations are cutting back inventories and employment.  They are moving inverse to the general economy. Forget the news and watch the technicals. The 50ma is coming in tat1286 area and will act as a bit of resistance at this point. European day traders and Asian Day traders are closing their sessions.  Expecting a run up into the European close to close on some of the open gaps. Lots of volatility playing out here as Libya, Saudi Arabia, Armenia are approaching their governments to create democratic freedom. Hats off to the men fighting the reactor meltdowns in Japan, they are risking their lives for their country.  

S&P 500 day trading course