S&P 500 day trading course for May 5, 2009 learn how to trade

S&P 500 emini futures day trading course

Well what a day today! Hope nobody got creamed today because my 1min chart looked like a basketball going down the court! OK but now to business, we opened @ 900.25 today after yesterday's 904.25 close. 11min into our day today yielded us our high of 904.75 @ 9:41. From here we began our day of yo-yo like head bobbing, watching price move between a few points of support and resistance. Today's Point of control coming in at 896.25. We had a bit of a scuffle only to see our aggressive buyers run away with it after hitting our intraday low of 893.50 @ 2:32, much like we have been seeing for the last few weeks. Only today we managed not to make any over all direction, trading inside an 11 point range getting our close today @ 900.00. Just one tick below our open this am. Watch for 904.25 area, as it looks to me like we have had some resistance fighting a breakthrough there. Possibly a POC for tomorrow?? Guess we will see.


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S&P 500 emini futures April 30 learn how to trade

S&P 500 emini futures learn how to trade

Quick recap for April 30, 2009

Opened today @ 879.50 after yesterdays 868.00 close, leaving us with a nice 11 1/2 point gap to fill. Being thursday gave us a nice indicator to watch for a change in direction. After open we kept with our 2 day up trend peaking @ 887.00 this morning before breaking through support @ 879.25 early this afternoon giving us our change in direction and filling the gap shortly after 1'oclock. Point of control today being 875.00, with an intraday low of 864.50. Nice little sell off just before close today (I wish I was in on!) closing out at 869.00. Let's see what tonight brings and be ready to make some money in the morning.

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S&P 500 day trading emini futures

Looking at the past few days seeing the correlation in the charts as we enter into the "Bait" for the investors.

Looks like the market makers will take this to new highs and then  take it out.  

Psychologically, alot of investors are waiting for it to go back down again so they can get in.  That is where the set up will occur.  It won't go down for a period, Investors will get tired of waiting and will test the market with small buys into their mutual funds or a few Stocks that they like.  As they slowly increase their positions and they are feeling safer and safer, the market will turn against them.

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S&P 500 day trading course How to read the daily chart for April 17

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