S&P500 day trading course price action

S&P500 day trading course live trading room price action on the S&P500 emini futures contract. [caption id="attachment_3356" align="alignleft" width="300" caption="S&P500 day trading course S&P500 emini futures price action"][/caption] This past week we have seen a double top on the S&P500 with resistance at 1193 .  The move down from the high has seen a bit of support at 1180 , and 1175 with price failure and a move back to 1180. We have a fourth attempt at the resistant trend line in this bullish channel with shallow pull backs. Support is coming in at 1174.50 and the next major support at 1167 followed by 1158-59.75 Resistance is of course coming in at our previous swing high at 1193, then 1197.50-98 .   Even Obama is cheering for the break of  1200, with his full press of cheerleaders led by Ben.  This could be the psychological break of the ceiling that could push the S&P500 to new highs. We could see a slight retrace to 1156, but the next move up could place us around 1344. If this occurs the 1100- 1350 trough could last for literally years.

S&P 500 day trading course

S&P500 day trading course price action

S&P500 day trading course price action on a daily chart.  We have been testing the S&P500 emini futures ceiling around 1186 and probably will be consolidating in this area for the close into the weekend. [caption id="attachment_3351" align="alignleft" width="243" caption="S&P 500 day trading course daily chart "][/caption] the buyers have been in control the past three days on relatively light volume.  The sellers moved in on  Tuesday with over 3,000,000 contracts executing and our first selling pressure in a week. 1178-80 is a congestion zone with a lot of positions on both sides.  Looking for a test back to 1186 to continue.  If the buyers can not take it above the this congestion zone on the close there is a good chance we could see another sell off day like Tuesday coming soon next week.  The key will be the break of the daily point of control at 1166. If buyers do move in we are looking at resistance at 1186, 1189,1197.25 through 1203.  It seems that with all the pressure in the press to paint the economy as healthy that the fed will push to get this market above 1200. We shall see. Support at 1172 and 1166.  with a major support at 1144.75

S&P 500 day trading course

S&P500 day trading course price action S&P500 emini futures

S&P500 day trading course price action S&P500 emini futures.  Point of control for today was 1173.  Seems the bulls were in control as good new from Citi profits come over the wire.  Gold also crossed the 1372 mark. [caption id="attachment_3347" align="alignleft" width="258" caption="S&P500 day trading course price action"][/caption] 1182.25 held today as resistance is tested for the third time.  Watching for this to make a break for 1192 then the big Psychological Obama victory of 1200.  The champagne glasses will be ringing when this is broken. Support coming in at 1178 and 1173.50 below this we have  the 200ma where we have a confirmation on direction with the 200 ema crossing.  Will have to break through 1160 to get to the weekly point of control at 1156.

S&P 500 day trading course

S&P500 day trading course daily chart price action

S&P500 day trading course daily chart price action for trade date Oct 18. Looking at the S&P500 emini futures contract. Buyers and sellers are at a practical stand still testing direction and either finding a top or pushing for a break of support. Most of the time ending a few points away from the open. [caption id="attachment_3342" align="alignleft" width="244" caption="S&P500 day trading course daily chart"][/caption] The past three trading sessions have seen a move up with closings near the 1st moves high of 1174. We have been testing both directions with 20 point ranges. Unfortunately, most of this move has been created with the devaluation of the dollar to other currencies which can be seen in Gold and Oil. Looking at the EURUSD you can see that the dollar is loosing ground quickly and we have a relatively strong move up in the ES.  Same with USDJPY. We might expect to see inflation creeping in from here. [caption id="attachment_3343" align="alignleft" width="196" caption="S&P500 day trading course EURUSD ES USDJPY"][/caption]

S&P 500 day trading course

S&P500 day trading course reversal bar price action

S&P500 day trading course live trade room price action. Fantastic price action today as we are ending the NY session with a reversal bar on the daily chart. [caption id="attachment_3329" align="alignleft" width="300" caption="S&P500 day trading course reversal bar daily chart"][/caption] S&P500 emini futures price action showing the resistance at 1178.50 with a move toward the 1166 support mentioned last week as resistance. Price action has been as laid out this past few weeks with a low volume move to these swing highs. If we have another test up tomorrow for a retracement of today's move looking for a swing high of 1174-6 then a sell into the close for consolidation and perhaps a move to 1144.75 if sellers step in with volume. Friday could be the day.

S&P 500 day trading course

S&P500 day trading course, live trading video

S&P500 day trading course live trade video. Drayton, our Calgary trader has put together this video on his trade this past day. Nice 3 point move down on 5 contracts with 3 targets. Precise entry and targets are a "Must Have" for effective trading, learn how at our Live 3 Day Intensive Training in Day Trading! Next Session is October 23-25 in Calgary Alberta Canada, Join Us!

S&P 500 day trading course

S&P500 day trading course price action

S&P500 day trading course price action on the S&P500 emini futures contract. Coming back from the banking holiday and looking at the daily chart. It seems we have almost completed the move to 1166 that gives us the right extension of the Inverted Head and shoulders. [caption id="attachment_3322" align="alignleft" width="224" caption="S&P500 day trading course price action Inverted Head and Shoulders"][/caption] Watch as price approaches 1166, 1159 and 1144.75 for support and resistance.

S&P 500 day trading course

S&P500 day trading course price action

S&P500 day trading course price action and levels of support and resistance.  The Gap is filled at 1156.25 and we have a small bit of resistance to 1166.  If the S&P500 emini future breaks through here then 1166, 1178.250 and next level running to 1198.50. [caption id="attachment_3314" align="alignleft" width="254" caption="S&P500 day trading course"][/caption] Support is close to the Gap at 1156.25 with then next major level comig in at 1144.75. There is an open gap at 1142 and one more level of support at 1138.75 so this area will give a lot of support. The next level is 1122.25 with 1111 as the next major level. It will take some selling off volume to move it down. [caption id="attachment_3316" align="alignleft" width="235" caption="S&P500 day trading course daily chart for 10-6 price action"][/caption] The Inverted Head and Shoulders has almost completed its equidistant move to 1166 with a very powerful move up on low volume. [caption id="attachment_3317" align="alignleft" width="199" caption="S&P500 day trading course 10-6 price action daily chart"][...]

S&P 500 day trading course