[/caption] S&P500 emini futures is showing a weekly chart with a test down and some price failure. Looking at this range and having stayed above 1300 support the point of control for this week is 1326.25. If we aren't able to close the week out above 1342 and close around the point of control we might have another week in this consolidated range. Oil prices are pushing domestic gasoline prices up. If this keeps its momentum and oil prices increase we could see another small hit to consumer spending. Price inflation seems to be breaking out. How this will reflect on the S&P500 is yet to be seen as there is normally a quarter lag to any price inflation on the S&P500. Support is coming in at 1298-1302 with further support at 1260, then 1180. 1360-65 would be an equidistant move up from 1000. Could get a little choppy here. Join us in Toronto this March 26-28 for a three day day trading course. Day trading course S&P500 day trading course weekly chart targets S&P 500 day trading course
No comments:
Post a Comment