Day trading course 2012 bulls setting the stage for sentiment as the year opens above major resistance.
Day traders have joyously opened and rallied the market above the resistant trend line that formed a previous pennant. This gap up has "sparked the sentiment of change that is in the marketplace.
2012 will hold many "surprises" for the market place as Market Makers again have got our eye off the ball in the short term as the Euro is about to face the biggest tests of their community. The big winner will be the Dollar index this year as Greece brings more of its dirty laundry to the table and holds the rest of the EU hostage for more money to bail them out. This coupled with Spain needing more money to make up for their short falls will be the last inch before the euro falls. Day traders see that the support at 79.84 is a critical point for the strength of the dollar index. Support is coming in here and at 79.50 as we approach the 50 Moving Average in Magenta. There could be a possibility of it pushing through this area, then we would look for the next support at 78.50. There is minor resistance at 80.50 and a point of control in the short term to see if buyers can maintain the trend. The next resistance is 81 then the most important major resistance at 81.30. If buyers close above here we are looking for a new floor to be established over the next two week period of trading. 81.30 is the long term point of control, and looks like it will be a dog fight over direction here. I would normally look at this as a double top with a target [...] day trading course
