Index S&P 500 Day Trading: Fiscal Cliff week

Hi traders and Happy Holidays for all of you!

This week, I made 4 targets for both side cause of Holidays.

 I like the big drop till ~1424.00 on Friday.This way it shows me that the Market respects my trend line.

Few thing to take in consideration for next week: "Blue Trend Line" , My "Green Up Trend", and "Fiscal Cliff"   "Blue Trend Line" : As you can see,1429.00 was a resistance and support for long time. And because we close above 1429 ,for next week, it will act as a Support for buyers.  "Green UP Trend" : As you can see, is a good thing that we had this sell-off on Friday, this way, we have space to go Long and go higher than before. Market looking to go back in my "Up Consolidation Zone" "Fiscal Cliff": If US fix this discussion in a positive way, we go "Long" if not "Short". Personally,(is only my opinion)....I would be very surprise if they don't agree on something before the dead line. Direction: I'm looking for "Long" only...as usually I will take if I have my[...]

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Christmas Rally Daily Chart bulls in control

Christmas Rally for the past two days as the Market rallies and there could be a chance for good bonuses.

Traders broke through the resistance at 1426.25 and gapped up to 1428 and never looked back.  This week we have seen very low volume.  As you can see there is price divergence and volume inequality on these moves up showing weakness on the buyers side.

The Christmas Rally has historically been in the first full week of trading.  

The first two weeks of December has been very consolidated with one move up and then this continuation move that started on Monday.   With a move of 31 points controlled by buyers we could see a continuation of this move to 1450 to a swing high move of 1458.  This is on low volume again which could prove to be volatile as there is not a large ask if the buyers do step in. This is also Options Expiration week.  Watch for some volatility going into Thursday and Friday as the dealers/traders adjust their positions and decide to hold into the holiday and into the New Year.  

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CHART GOLD AND CHART S&P500 Day Trading 17-21 December 2012

HI I have to remove my post with targets explanation. One trader make me realize I did not change "expiry date" for my futures. My direction still "Long for both, S&P500 and Gold" but, because my work was done on old futures contract expiry date...they are not as precises as us to be. Thank You [gallery]

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GOLD CHART DAY TRADING MONTREAL DAYTRADING

Look like gold are in a very small consolidation and few others are coming soon...(we are between MA50 and MA200) I'm looking for "Long direction" because : -price never close under 1695.00 past 2 weeks. -We have 3 double Bottom, all in one place.(Black trend Line) I hope we will finish by closing above MA50 this week or next one, so we can use it as a Support to go Higher...to the double Top around 1752.00. One more thing, If Monday I don't see any small signal or clear confirmation to go Long.....I will pass for this Call.    

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This week, I'm looking only for Long Targets. 1^st I would like to see sellers fail one more time Monday . 2^nd waiting for my confirmation Long Call  1.A:Market Try to pass 1432.00 3-4 time, Fail every time. If you notice, is was hard not only cause of double top (1432.00 double top) but also the MA50 was strong a  resistance.  1.B: Now, MA50 are the resistance, and will help market to pass 1432.00. This week, we pass once 1432.00 and next day go even with more commitment. And we even try to close above my "Dark Trend Line".  2.A: 3 resistances all in same place: 1-MA 50 2-Black line : Double Bottom 3-Green Bottom trend line   [...]

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Montreal Day trading S&P500 / ES Futures-Contract Update for my Short Tragets

Hi, on my last post I said I was waiting for Short Signal...and it will take 1-2 day...so there we are.... My 3 reasons why I Short this: 1st:We never close above 1432.00 ,The price was not supported one more time. 2nd: we touch my "Blue" Trend line 3rd: 90% of others index are going for a short signal also. Targets: After this strong Swing, I have to re-check for my targets. 1st Target:1422: once I get my first target, I will check how market will react on my "green" trend line and then look to get out, or stay for 2nd target. 3rd target: Same as 1st one, check for next "green" trend line. Have a Great day Guys Next Update on week-end

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Time for a little short this week. Buyers can't go above 1422.00 , and sellers start to take control of market. I'm keeping my short target as it is...once it get to my first target (~1408), then, is only question about managing my stop, to get maximum cash on this trade. this day is not over yet...but however, buyers are weak...can't even go back to my double top ,and if it's going long for  1-2 day, I prefer wait for short signal. Thank You

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S&P 500 / ES 12-12

[caption id="attachment_5486" align="alignnone" width="739"] Montreal Trader , chart for day trading for next week.

Montreal Trader , chart for day trading for next week.[/caption]  

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Broken Window Fallacy - Does Hurricane Sandy spur the economy?

Hurricane Sandy - Does it help our economy to rebuild? The Broken window fallacy is a short video explaining how the press spins the Hurricane into a stimulus for the economy. Hurricane Sandy isn't a benefit to the economy, it just keeps the real demand for goods and services tight as income shifts to cover damage. We could see oil initially go down as the east coast was effectively turned off for two days and the markets closed. Gold, or the Panic commodity will also see some price relief as sellers will try and keep profits and the futures market will probably show some price pressure to sell as this is not good for business in the states.

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Day trading FOMC consolidation on S&P500 emini futures

Day trading course Technical Trading

Learn how to trade this consolidated pattern on the S&P500 emini futures.



Day trading Course Calgary  Morning trade session, Point of control, Consolidation Zone after 30 point drop.

Our Day trading course trains traders through high impact learning activities to manage risk, take risk, push the button, be responsible for trades and keep on the right side of your trades. Our live trainings focus on price action, settings of the market and the Market Maker mentality and precise entries. The emini S&P500 day trading course will show you how to take profit out of the market, manage your account for income and capital appreciation. After the course we have live trading room to collaborate and trade together. For experienced traders and institutional traders you will get a psychological break through of clarity and perfect your entries and risk management, For beginners you will learn the settings of the stock market, price action and psychology necessary to build your accounts.


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Day trading - risk off - Dollar strengthens Index falls Bearish pullback

Day trading - risk off - Dollar strengthens Index falls Bearish pullback as Apple kicked off the move down followed by Google as earnings didn't meet expectations.

S&P500 emini futures has settled beneath the point of control. The sellers gained control in the overnight session as there is more pressure to move to the dollar and bonds in the face of Spain's recapitalization and Europe's ongoing financial crisis. Previous to this week the market has been ignoring the news out of Spain and Greece but this morning Spain is again parsing out money to cover banks. The point of control on the S&P500 emini futures is 1418, the sellers took control before the US equities market opened. Our next area of support is 1398 to 1402. This is where we got the break out to or swing highs which were tested three times. We have had two distribution periods since September 11, with the the third distribution leg starting with the Apple AAPL sell off from 1460. This last distribution has moved the market roughly 60 points from the highs to break the support at 1418. Normally, we would look for three days selling pressure, then consolidation before the continuation or reversal. The support is the Psychological number 1400. If investors see the market close down below the 1400 area it could put more pressure on selling and we could see this move to the next target 1384-86 . The emini futures has pushed past the 40 point selling range for a volatile move this past three sessions so we could see it break further to 1365 area for support on the 200MA. [...]

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Buyers are weak in morning trading Sellers exhausting

Day trading  - Buyers are weak in morning trading Sellers exhausting as S&P500 emini futures hitting support as earnings are revealing a weaker business economoy.

The S&P500 emini futures contract hit support this morning at 1424.25 and price has been moving in a consolidated range from 1424 to 1430. A 6 point range on light volume. Support for this session is 1424 with another short term support coming in at 1420. Long term support will be at the next move down to 1415, then 1408 to the psychological support of 1400. Resistance in the Short term is 1430 to 1431 then our next upside target of 1437.25 coming close to the 200MA and the 50MA which if it crosses in this position is known as the golden cross in the short term. Next resistance is 1448 which would give us a a new lower high if it turns. Watch as this pattern gets tighter and if earnings keep coming out with falling sentiment, then we could see this pattern break to 1400 and a probable continuation to 1386. In the long term the market is looking for the next support for a bounce to break through this resistance at 1465-70. Probably into the end of November as we will be looking for a great bonus season for Wall Street. (which is not located on Wall Street by the way). [...]

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Bad Apple takes Nasdaq down

Day trading AAPL watching as Nasdaq heads down as Apple makes up 20% of Nasdaq trading volume. Apple (AAPL) is showing weakness as it heads into the first major support at $626 . Watch for consolidation at this level as price has come to the first major supporting trend line. If price breaks through this level then the next area of support is $582 then an extreme sell off to $520. It looks like we could see some support coming into $5400-60 area as this is the are of consolidation for the breakout from the inverted Head and Shoulders from May of this year.

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Day trading course Bull Market Approaching Highs

Day trading course Bull Market Approaching Highs - The S&P500 emini future is approaching previous swing highs of 1468. The S&P500 has been in a very choppy range moving to new highs with a series of higher lows. The previous support at 1452 held and we broke through the resistance to get above 1460 in the overnight. This is leaving a gap at 1456. Watching for initial resistance at 1467 which was the previous swing high. On a longer term chart we can project the next area of resistance 1472 then 1480 and 1486 with an extreme high at 1503. The Euro is showing strength and the dollar index weakness, a good sign that the market could continue its major trend. Support will be coming in at 1460, 1456 and 1450 in the short term, with 1442 being major support on the 200MA.

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SP500 Weekly Chart Learn how to trade

S&P500 day trading course, learn how to trade - Weekly Chart S&P500 futures.

The S&P500 emini futures weekly chart. Broke through and maintained direction after 1400 Creating new floor in the extension of this move at 1436. It would not be unusual to see price test to here and consolidate, but as the market is in the last two trading weeks of September, I am instead, watching for a test of the move to 1460, with consolidation on the top side and a further extension to first resistance at 1478. If price moves through resistance at 1478 the long term picture to continue the move to 1530, then to our extreme high of 1615.75 This is on a weekly chart, using this macro picture to the upside extension of this bullish move can take time with break outs and head fakes, don't trade cash unless you are willing to take responsibility for you money. If Volume on the S&P00 emini futures increases this week to over 7 million, I will be looking for the follow through on the move. If we hit resistance and do not take out the swing high from last week, then the S&P500 emini could re test the support at 1442, then 1421. An extreme low of 1400 would keep us in this bull market. We still have quite a lot of room to keep us in this bull market. Remember, a bull market doesn't necessarily reflect the consumer side economy as it "trims the Fat" in the employment sector. This is the same patterns we can see in Japan's economy as corporations became more effective and moved jobs offshore. Watching for Unemployment to spike up ag [...]

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Quantitative Easing the bull or the horn?

Quantitative Easing the Bull or the horn the market is running on high hopes? The S&P500 emini futures has been in a bullish trend reaching new highs.  

The FOMC meeting on Thursday, seems like a lot of hope is betting on the next round of Quantitative Easing.  Although the S&P500 emini futures contract has been trading on abysmal volume, it has levitated to new highs.  Monday, we barely made it through 1 million contracts. The Support for this move is again at the previous swing high.  We are looking for this break of the resistance at 1440 with a projected move to 1465, then to 1487.  Normally we will see a volume increase in the second week of September but with all the pressure we have in Europe there has only been a few days close to 2 million.  The problem for most investors trading this market versus the institutional trader is that these periods of low volume can produce volatile break outs which turn into head fakes as investors are buying into a move as it retraces. If the market stalls at 1452-57 after the Thursday FOMC announcement, then I will watch for a sell off to break through support at 1420, then 1398 with an extreme low of 1340.  This is contrary to what is being said in the market place by the pundits for the next round of easing, If the Fed backs off then we might see this scenario. Keep your powder dry, take executable trades that follow your risk management strategies.  Don't make a bet on the direction, only trade your set ups.  This could be a very volat [...]

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Dollar Index Euro and Markets running opposite directions

Dollar Index Euro and us markets running in opposite directions as Fed Feather reports and traders come back from holidays.

The Dollar index Euro and US markets are in a complete disconnect from normal trading patters.  As the S&P500 emini futures has breached the 1400 psychological ceiling and has been holding it as support we see that the US Dollar index on the futures markets. For the past three days traders have been selling the dollar which normally pushes up the Euro.  The chart reflects the price action but there is a disconnect with the price action on the S&P500 emini futures.  We will go more into the price action on the S&P500 emini futures on the next chart. Monday the S&P500 rallied to new highs and breaching the resistance at 1418.this is when the dollar index pushed down through the floor at 82.500 and dropped almost a full penny in the next session. The Euro is also showing a rally fro 1.23.67 where it rallied through its resistance on the 50MA and proceeded to move up to 1.2535 the following two sessions.  If the S&P500 emini futures were to have followed the same trajectory, traders would have expected to see this move to 1433-39.  The Euro has powered on and kept the direction moving to the 200MA where we could see some support coming in. The dollar index and the euro move hand in hand and can be seen moving this way.  Temporarily they will disconnect and we will see one consolidate and the other beg [...]

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Futures Market testing support Futures traders on vacation.

Futures Market Testing support Futures traders on vacation.

How long a run can the emini futures market take? It seems the market has hit resistance and is looking for support. The futures market traders are on holiday so volume is low. I haven't seen volume at this level in years. With no volume in the market their is a tendency for very consolidated days with short trading ranges. When the bid and ask are shallow, expect to see very quick movements when the market makers enter the market. The futures market is showing a point of control for the day at 1401 with support for this bullish move coming in at 1395.25.  If price breaks through this support we are then looking for 1390, then 1382 then an extreme low of 1365-68.

In the futures market we normally start seeing volume return at the end of August and early September.

This is when we get the September rally.  Watch for the bulllish channel to hold with a bounce to 1395 and then consolidated range to 1405 then resistance at previous highs 1409.50 and then an extension to 1415-18.  

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Market rally lacks commitment

Market Rally lacks commitment on the move up as volume in the S&P500 emini futures is around 1.2 million.

Day Traders are not committed to this move up on the S&P500 emini futures. We have support coming in on short term of 1390 and 1401.25 with resistance at 1403.75 and 1409.25. The long term Point of control on this move is 1401 and today it is at 1407 with a commitment of 1410 or higher to keep direction.

Market rally will begin to falter as it reaches highs and volumes drop or stay the same.

A sign of capitulation would be for buyers to spike their buys at the top end of the days trading range and then for sellers to push them back leaving price failure.  As you can see there is decreasing volume, but not large buys spiking volume through the descending trend line. If you would like to be able to use market rally to discern and use these price action techniques to define your entries and targets join us at one of Day trading courses. We normally have a Montreal Day trading course, a Calgary Day trading course, and a [...]

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Day trading course - Summer Trading

Day trading course summer trading S&P500 emini futures buyers are exhausting.

Day traders - S&P500 emini futures live trading room looking at the weekly chart for repetitive patterns, price action and support and resistance in technical trading. The Weekly chart of the S&P500 emini futures shows weakness after 5 continuous weekly candlesticks.  Buyers have been in control for five continuous weeks.  As we approach resistance at 1405 Sellers have brought the price back under 1400 to the support at 1395.  If we close below 1389 then next week I would look for a sell off to the supporting trend line around 1355. If price stays above 1389 into the close on Friday, then I would look for another 1-2 weeks of consolidation unless buyers commit to moving above 1420.  If this is the case I would be looking next week for an extreme high of 1462 and a consolidated range from 1453-62.  The Point of Control on the Weekly chart is 1389. Our Day trading course emphasizes the tendencies in seasonality and one that might be overlooked by US traders is that most financial institutions and government in Europe are on summer break.  They aren't expected back to trade and clean up their mess in Greece, Italy and Spain until September.  This is of course when Greek payments are due and we might see another round of haircuts on bonds just issued. The low volume we are experiencing here is also indicative of summer trading in the US session.  Many investors now are moving out of bonds as [...]

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Facebook Stock reaching 50% off

Facebook stock is reaching it's 50% off price from the IPO.

  Facebook FB Ipo price of $38 has plummetted to $20 level in today's trading. As mentioned before in a previous Facebook Stock article, Professional traders will more than likely short this stock to 50% of IPO price then look for a settling price for support and buy back.

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Day Trading Course - double top

[caption id="attachment_5333" align="alignleft" width="300"] Day trading course l 866-640-3737 l learn how to daytrade l Day trading education[/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. A double top has formed with support testing the 1382 level. If support breaks through the bottom trendline pressure could bring price to test the first target at 1379.25. The next target level is 1376.75 The next support level is the average range from the close at 1367. The outer targets are at the previous range at 1360.50 and 1356.25 which would put the sellers in control. If support holds buyers will come in to bring pressure to test resistance at the first target of 1385. The next target is 1386.50 and on to new highs at the outer target level of 1395. Trade What You See  

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Day trading course - Pennant

[caption id="attachment_5318" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. A pennant has formed signifying congestion while there's consolidation.We'll see the pattern completed when it outside the converging lines. If its a strong bear trend, sellers will pressure to break outside of the pennant on the downside at the lower trendline for a continuation to the first target at 1341.75. The next target levels are 1340.75, 1337 and the outer target of 1332.25. If buyers come in there is a target which is a strong support/resistance level at 1345. The next targets are 1347.75, 1350.25, 1352, 1354 and then on up to the 200SMA at the 1356.75 area. Trade What You See

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Day trading course - possible right shoulder formation

[caption id="attachment_5315" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

After the rally on 7/18 there has been an extended range with a double top at the resistance level around 1375.75. Possibly at this time a right shoulder forming as part of a head and shoulders formation. We shall see.

If this is the case sellers will be in control and they will be testing targets of support at 1368.75, 1366.50, 1365, 1363.50, 1361.25 and all the way down to a major support level at 1356.50.

If support holds buyers will come in and test resistance at the first target of 1370.75, with the next level of resistance at 1372 to 1372.50. Next targets at 1373.75, 1375 and on up to the upper trendline.

Trade What You See

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Day trading course - testing resistance

[caption id="attachment_5311" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

After hugging the bottom trendline and breaking through the channel, there was a pierce and testing of support at 1352.75.

When the market opened a strong rally ensued to the upside . Buyers were in control until a resistance level at 1370.50 held fast. There was a pierce and breakthrough of resistance and consolidation at that level.

At this time close to testing resistance again at the top of the narrow range at around 1372.

If there is a breakthrough of resistance at 1371 the buyers will come in to test the next target at 1372. There could possibly be enough pressure to rally to the upper trendline.

If resistance holds, sellers might come in to put pressure on price to test the downside with the first target at 1370. The next target levels of resistance are 1368.75, 1367.25, 1365, 1363.50 and outer target of 1361.25.

Trade What You See

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Market Rally Futures Trading bullish move

Market Rally buyers step in to continue S&P500 emini futures move to previous highs.

Market rally will meet resistance at 1370 and 1372-75. Previously, at these levels the S&P500 emini futures contract had many attempts on the way to this price level. The market rally first moved to 1370, retraced to 1363.50 then on the third day of topping consolidation moved to 1375 in price failure and turned down. There is support at 1366 and 1363 in the short term for the market rally and we can see this test before one more run at the highs before close. Could see a 3:30 or closing rally. This area could see a day or two of consolidated price movement.  

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Day Trading Course - testing support

[caption id="attachment_5301" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

A bullish trend with a very strong test to the downside earlier on 7/17 piercing and breaking through the bottom trendline of the channel. Support was found at 1339.25 with a retraction to the former range and continuation of the the bullish channel.At this time testing the lower trendline, support is holding.

If support breaks and sellers come in price will breakthrough the lower trendline and head towards the first target at 1353. If bearish pressure is still strong next targets of support are 1349.50, 1346.75 and on down to 1344.25.

If support holds buyers will come in to push price towards the upper resistance at top of the channel. The first target is 1355.25. The next targets of resistance being 1357and 1359, on the way up to the upper trendline.

Trade What You See

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Futures market moves on lower volume

Futures Market moves up on lower volume, this is a critical point for the S&P500 emini futures market as buyers are looking for the commitment to push to new highs.

Futures market is seeing a weak commitment on the move up in the S&P500 emini futures. Watching a point of control on this move up at 1357.25. This is a previous level of resistance and where we have the left hand mid term shoulder in a Head and shoulders pattern on the 1440 min chart. If the market can close above this level with a retrace to 1351 tomorrow then I would be looking for a test to previous swing highs to 1374.25. Watch for price failure at these levels. Could see a large swing from this point. If price consolidates over the next two days of earning between 1350 to 1365 with decreasing volume, we might not see the short squeeze that kicked off the third leg of this move up in a bullish flag. If it does move up, there is resistance at 1378-82 1400 and then 1420. On the support side we are watching 1325 which is the 50MA then a break through to 1320 and then 1300 which is where we can see support at the 200MA. Price normally has been breaking through the 200MA has been half of the Max daily range for support at 1285-89. Future Market - Let's take a look at the day trading in July 2011 on the S&P500 emini futures. [...]

day trading course

Day Trading Course - bullish testing resistance

[caption id="attachment_5286" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. With a strong rally on 7/13, the price went into a range due to indecision, with the outcome being sellers pressure to create a gap to the upside.  Eventually touching and testing the upper resistance trendline of the bullish channel. At this time ranging between support at 1353 and resistance at 1355. If buyers come in to break the range to the upside, the target is the upper trendline of the bullish channel. If there is a retraction due to sellers creating pressure to close the gap, and even further to test the support at the bottom trendline, the first target is 1353. The next target is 1350.75, then on down to 1349.50, 1347.50,1345.75 and on to the outer target of 1343. Trade What You See

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Consolidation Day - Bad news and market holds

Consolidation Day, the markets are littered with bad news, but price holds in this supported range.

After this past week's abysmal news on the economy(unemployment numbers), corporate greed(Libor is fixed), and the monopoly game in Europe(Merkel has staying power), the S&P500 is stalling into the new week with a consolidation day. Consolidation is when the market is waiting for a leader to set direction or news to create direction. First, let's consider where the market has traveled. Day traders moved this market from 1300 to a high of 1375 the last week of June and high side consolidation through the Fourth of July week. Which as mentioned in previous post is a good time for a rally. A retracement of close to 40 points is normal. 1342 to 1349 has been an area of support and price has consolidated at these levels for the past three sessions. 1348.25 is the Point of control in this market and if Sellers can keep the close below this level we might see a test down to 1333 before the move up. Again, the S&P500 could be unhooking from the Euro. Normally there is a positive correlation with the moves of the Euro to the US Dollar and the S&P500. Or another way to look at it is as the Dollar index gains strength, the US indexes will go down. An inverse relationship. Earnings could set this divergence off, and as Earnings come in we could see the correlation drop between Euro and the S&P if Strong US companies with earnings generated in mostly US sales. We shall see. The closing will show a reversal on today's price action with a negative reaction pr [...]

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Euro collapse Dollar Strength Stocks weaken low volume

Euro collapse to 2 year lows, Dollar strenghthens, Gold fools the gold bugs and US stocks looking at a low volume rally.

S&P500 emini futures hourly chart showing price stucture weakening on this low volume rally.  Is the Euro Collapse inevitable?  We shall see. It definitely effected market players this week.  Or shall we say the market players that weren't on vacation. Swing traders showed no strength coming into the Friday session as price broke below the 50 Moving average and then could not recover.  A welcome three day rally as most market makers are not playing.  Smart money is moving on the side and taking profits on this move up.  1375 was our projected high side resistance this week with support coming in at 1361 for direction.  The sellers were able to move through support at 1361 and 1352.50 to move to the 200MA at 1343.25 where our projected support for this move up came in. Watching for this to retrace up to 1352.50 for the close on a weak volume rally as investors are looking for a place to get in on this move.   Seems the S&P500 is not really selling the news on the unemployment as this small retracement was bought back up. We could watch this consolidate as market makers come back next week.  Earnings are coming out this next week and would expect some financials to actually benefit from all the Libor fraud.  Those that didn't participate can get in a class action against the banks that did commit the fraud.  Too bad no one will get arrested.  Biggest mistake in the creation of a [...]

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Euro Relief Market Rally - Day trading course

Euro sighs relief as the politicians agree to agree and the US market rallies hoping to get back on track.  Get ready for the S&P500 to run into resistance.

Day trading course looks at how the S&P500 price action model is effected by market fundamentals and the European markets agreement to agree. Watch the markets rally into this pause. The Europeans have kicked the can down the road to December in their decision making and give appropriate hand outs on the way. The S&P500 emini futures rallied in the overnight gapping up equities at the open. The bullish direction will hit some resistance as it approaches the initial resistance at 1348-52 and an extreme high 1358. The key for the market to keep this trend is a close above 1350 with futures holding and moving up into the weekend close. On Monday watch for a the pressure on the futures market with the Asian and European opens. Could see a move back to 1338 support. If we see price failure under the 1338 support to 1334-6 area watch for a turn and keep the direction of this mid term move. Trade what you see and never listen to the so called experts. If you can't see the direction of the market and don't understand how to use a stop, then don't trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late. Day trading course focusing on the S&P500 emini futures support and resistance and efficient market hypothesis which states that s [...]

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Learn how to trade - Futures trading

Learn how to trade - futures trading.  Market is retraced to major resistance.

Day trading course looking at the price action on the S&P500 emini futures contract. The Point of control for tomorrow's session will be 1339.75 as we watch to see if sellers enter the overnight session in futures to push a gap down in equities on the open. Most traders were looking to test the 1351-54 area today but this is the congestion zone that we experienced before the break down in the first few days of May. The buyers held for a few days at this level before the sellers could take it from them. Price in this area from 1341-47 is where we can see this stall. Above 1354 and buyers can carry through on this move up. As always in this economic environment watch for the low volume buying. Shows weak support for the move and can fall 10x faster. Also note the timing mentioned in previous posts for the timing of this move. May was the start of the sell off with a retracement of the move in June with a double top or lower high leading to a lower low on longer time frames. We can see support if this does begin to sell at 1339.25 at 1323-25, then next major support at 1312.25 and then the the previous consolidation zone at 1298-1304. Learn how to trade - Futures Trading with other traders that all speak the same technical language. We will have a three day trading course in Calgary, Alberta June 23-205.  This will followed up by work in the live trading room so you don't have to trade alone.   Tr [...]

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Day trading course - Buyers remorse

Day trading course looks at technical price action on the S&P500 emini futures to see what could end the trading day in a little Buyer's Remorse.

After a quick reversal and 2 days of buying with high volatility on the buyer side, the S&P500 emini futures bounced off of resistance at 1330. The overnight sessions have seen most of the move as the EU got together to agree on agreeing. First area of resistance at 1322.75 . If the market closes below here we could see a hammer finishing this move up and a test to 1330 giving 7 points of price failure where the sellers took the direction off of buyers.The previous swing highs at 1335 look to be the swing high target. If the market closes at the 1322.75 resistance or above look for a test of the swing high an maybe a continuation to 1352 and an extreme high target of 1363-65. This would be about two weeks ahead of the previous price projection pattern and complete the lower high in the long term off of the double top. If this closes below the 1314.50 and we have a sell off into the close, looking for support at the 1304.50 area on the approach to the psychological 1300. This could be where the retail pulls out and actually starts the move to 1180 (longer term target). I would be looking for more "doom" out of the EU with a black swan event like Germany deciding they have had enough and pulling out of the Euro, or a collapse of the Russian Ruble as oil & commodities prices tumble. There are many doom situations coming out of Europe presently with Spain's banking, insurance and credit structure coming into focus. It i [...]

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Day trading Course Gold Treasuries SP500

Day trading course looking at Gold, Treasury and the S&P500 emini futures.

Gold trading and price movement. First point to be clear on is that Gold is a measure of Volatility in the markets. It is not the Risk on, Risk off trade that you hear on investors news channels. Golds price structure is very dependent on the volatility in markets and will see velocity in price movement as volatile news hits the market. For instance, the collapse of the Euro, when the price of the Euro for the US dollar started this move down we did not see the price of gold move up, instead we saw dollar strength moving Gold prices down. It is when Dollar's normally hit a high against the Euro and there is volatile news, that we will see the inverse relationship between gold and US dollar index separate. Gold futures has support at 1530 with three attempts at support and recently price failure on the move to break 1530.  Today's move on gold sets in a higher low with support coming in off of 1550 for the break of resistance an our previous floor at 1620 becoming the Ceiling.  Watch for this to be broken into the close with a target price of 1625-1630.  This will be kissing the resistant trend line on the mid term Bearish pattern.  For the buyers to take control this will have to be above 1650 with  a move getting through resistance at 1676-80.

The Bond Market has also seen buying into this risk off scenario where Europeans are fleeing the Euro.

[...]

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Facebook Stock - Fadebook Get it at 50% off like the pro's do.

Facebook stock or as professional traders look at it Fadebook.  How to get Facebook stock at 50% off.

First of all, this past month I have been asked by numerous traders, investors, and Facebook users if I am going to buy Facebook Stock FB and and what price am I looking for it to go to.  My answer has been typically - 50% off the IPO price.  Now  please consider what we are buying.  Facebook, is a huge internet presence with many, many, many users.  Problem is that even with all these users, they have no real income.  Any one in the industry knows, unless your selling a diet pill or a self help class, advertising is pretty much a dud on Facebook. Investors, (people who have to keep working to keep investing) on the other hand were not looking at the income side of the equation but on the popularity side of the equation.  Sort of like the other 50% off stocks like Linkedin LNKD, Groupon GRPN and Pandora P .  Just because everyone is using it, doesn't mean that it will have income, remember Myspace?  Yes these are all different stocks and there are many factors unforseen that effect stock prices and price action, but if we could suspend exact and enter in to the land of about, I will show you on a few charts what could possibly happen to Facebook stock and see how professional traders could see waiting until "price settles" to buy in.   [...]

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Risk off trade is Dollar, Not Gold, Dollar takes a break

Risk off Trade is in the purchase of Dollars or US Treasuries, not in Gold. Dollar has been screaming up because of the impending doom in Europe.

Gold, The Dollar Index and the S&P500 emini futures contract are running hand in hand this week as the Euro has been hit.  Lets look at the Major trends.  You can see as the Dollar index has been rising that Gold and the S&P500 normally run inverse to the major trend.  The Dollar is up, Gold and S&P500 trends down.  This is showing the major trend to be Risk off trade and flow of currency internationally into the Dollar index. The Risk Off Trade sometimes exhausts and this is when the Dollar index goes down and in the mid term you would normally see where Dollar index goes down, gold goes up and the S&P500 would also be hit.  We would have to enter another chart here as the Euro actually rallied and left the S&P500 behind.

The Risk off Trade can Exhaust in the purchasing of the Dollar and hit major Support.

The Dollar index, the Gold futures and the S&P500 emini futures contract have been moving together this past week in a very unusual rally.  This is showing the risk off trade for the Euro but it showing that Gold has hit some support and could be heading for it's upper resistance at an initial price target of 1580.  The Point of control is actually the neckl [...]

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Sell off in SP500 threatens psychological support

Sell off in the S&P500 emini futures is challenging the Psychological support at 1300. Buyers are wondering if they can hold this position any longer. Will they have to sell?

Click on the chart to get a better view. The S&P 500 emini futures day trading course is looking at areas of support and resistance. Be aware and Beware - Trading futures is high risk, don't listen to anyone's opinion. Do your own home work and be sure to keep your money away from this market if you are not using a stop.

Psychological Support is 1300. Watch out below as Buyers may not be able to hold.  Point of Control for May 18 is 1302.75 with a downside target of 128.025 then 1265-68.

This is the finish to the video I put up last night.  The after hours close on the S&P500 emini is just on the 1300 psychological support.  Watch out for the talking heads.  If they bring in the doom sayers "market is heading to 666" then I will watch for a headfake to 1265 and some capitulatory volume. As mentioned the EURUSD and the Dollar index are running against each other and we are headed to  Their respective support and resistance lines.   Trade what you see and never listen to the so called experts. If you can't see the direction of the market and don't understand how to use a stop, then don't trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late. Day trading course focusing on the S&amp;P500 emini futures support and resistance and <a style="text- [...]

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Consolidation in a bottom range - Day trading course

Consolidation in the S&P500 emini futures as a major support has been reached.

  Watch the bounce this am off support and could see some price failure then a move up. Depending on what occurs with the dollar index and Europe we could see a bit of a break on this move down. Trade what you see and never listen to the so called experts. If you can't see the direction of the market and don't understand how to use a stop, then don't trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late. Day trading course focusing on the S&P500 emini futures support and resistance and efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.

Day trading course looks at price and direction, the support and resistance and the direction of the market.

Day trading course will be in your area soon, join us for Day trading education.

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Day trading course - SPY (ETF)

[caption id="attachment_5167" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the ETF (SPY) in the trading course live room. The ETF - SPY has been in a bearish trend with price action hugging the lower trendline. If the sellers keep pressuring price to test support at the bottom trendline, a pierce and breakthrough of support may occur to drive price to lower lows past this bearish trendline. If conditions go into the oversold area, buyers may come in to fuel a rally to the upside to test the resistance levels. The first target is 133.79. The next targets are 135.06, 135.89, 136.67, 137.65, 138.94, 140 and on to the outer resistance target of 140.64. Trade What You See

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Day trading education day traders wondering if it is safe.

Day trading education - is it safe yet?  Day traders are standing on the side wondering if the markets are going to turn at these levels of support.  The over all question is , "is it safe to get in yet?"

The S&P500 emini future is showing support after it's five previous days down and a test to 1340. Day trading Education - looking for major patterns on the S&P500 emini futures.  If we are seeing support at 1345 with a test to 1340 we could have an inverse Head and Shoulders forming.  There are two scenarios that could easily play out. A move to 1375-81 where the move fails and it becomes then a continuation to the down side, or the other scenario with an extension of the move to close the open GAP at 1400. Watching for this to close today under the 1365 support The open Gap could be the initial target, If this forms a spike, luring investors in then we might have enough money on the table for a sell off. At present price levels between 1345 and 1355, it shows up mostly as price failure on he longer term charts with overnight price structure as a consideration. 1365 would be the point of control for the move up. The Markets seem like they decided to "just take a break this AM" as JPM courageously said they have made a mistake.  Their 2 billion in initial losses will be unwinding a position that is going against them and their "hedge" is worthless. So it seems reasonable to say that the after math of this will be obvious only after JPM unwinds this position [...]

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Day trading course - consolidation

Day trading course l 866-640-3737 l learn how to daytrade l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

There is a wide range and consolidation between support at 1390 and resistance at 1411.75. After the rally up to the peak at 1411.75 there was a retraction to the midpoint at 1402 with an extended touch and test of support at 1400. With a last test of resistance at the 50SMA there was a breakthrough of support to touch and test the 200SMA, with a subsequent correction down to earlier levels of support before the rally. A touch and test of the support level at 1390 brought in buyers to bring pressure to edge upward to test resistance at the 50 and 200SMA levels.

     At this time in indecision, if buyers come in the first target is 1400. The next target is 1402.50 on up to 1406.50 and to the peak resistance at 1412.

If sellers come in there will be a draw down to test support at the first target of 1397.50. The next targets are 1395.50 and 1394. the lower targets of support are 1391.75 and 1389.25.

Trade What You See

day trading course

Day trading course - consolidation - showing weakness

Day trading course looking at consolidation in the market and the weakness as large money is not in the market.

As mentioned in our day trading course and in numerous posts, the market makers make direction in the market.  We are looking for where the market makers are committed to buy.  The CFTC or the Commodity Futures  Trading commission releases the composition of open interests for Futures Markets.  I normally do not rely on Data from the CFTC but it shows that the Long positions in the market place are held by small speculators.  This is not an encouraging sign for the Market as there is a decreasing number of Net Long positions held by Institutional traders.  (BUYER BEWARE)  Normally the fast innovators in the market playing against Distribution in the consolidation phase will be fished out as investors are normally late into the selling and will sell into the momentum of a short term head fake (to the downside), as Market makers are putting in their next buys into the market. Remember the saying, "Go away in May."  Well, this could be the start of a declining market as light volume in this top side consolidation bounces off of lower highs.  Contrarily, we are in a bullish trend, this could be an area of Consolidation where the market makers are distributing after a long run up, where a correction could be the next buying opportunity.  Watch out for sell offs in this light volume and always use a stop.  If you are not experienced trading th [...]

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Day trading course - testing channel

Day trading course l 866-640-3737 l learn how to daytrade l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

After a time testing the resistance at the upper trendline, a final test brought sellers in to pressure price down to test support at the 50SMA. A final push down to test the lower trendline ended in price failure with a Doji, then a break to the upside to hang out around the 50SMA once again. With a breakthrough  of resistance at 1389.25 a rally ensued to the upside to test resistance at the top trendline. With resistance holding fast, a drop to the downside due to sellers pressure again to bring price to hang around the 50SMA, ranging between support at 1389.50 and resistance at 1393.25, with a midway at 1391.50.

    If buyers keep the pressure on the first target is 1395.25 onto 1397.50, 1399 and then to the upper trendline.

If sellers come in, they will bring downward pressure to test support at the first target of 1393. The next target levels of support are 1391.75 and 1389.25 ( which coincides with the 50SMA and the lower trendline) stronger support? ... from there next targets are 1386.50, 1384.25, 1381, 1378 and on down to the outer level of support at 1373.75.

Trade What You See

day trading course

Day trading course Market consolidation

Day trading course Market consolidation will lead to a test of the support around 1373-76 as bulls are searching for footing on this slippery slope.  

The S&P500 has been in a consolidated range fishing traders stops for the past 6 weeks, with very little room on the turns. The point of control is 1387 with the sellers in control this morning. The Day trading course live room will be on next week, but our traders are watching for a continuation to the upside as we approach 1400. Presently we have support in the Emini futures around 1380 thenn 1376, 1373 and a very doubtful 1363. Looks as if we can be consolidating at these levels until Market makers give the market some direction. Smart money on the sides. Trade what you see and never listen to the so called experts. If you can't see the direction of the market and don't understand how to use a stop, then don't trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late. Day trading course focusing on the S&P500 emini futures support and resistance and efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.

Day trading course looks at price and direc [...]

day trading course

Day trading course - Bearish market - Bear flag

Day trading course looking at patterns on multiple markets with selling pressure in the S&P500 emini futures in the pre market

I am posting a video to watch with a few charts.  Tuesday we will have live trading. Trade what you see and never listen to the so called experts. If you can't see the direction of the market and don't understand how to use a stop, then don't trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late. Day trading course focusing on the S&P500 emini futures support and resistance and efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.

Day trading course looks at price and direction, the support and resistance and the direction of the market.

Day trading course will be in your area soon, join us for Day trading education.

We normally have a Montreal Day trading course, a Calgary Day trading course, and a [...]

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