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 [...] day trading course
