[/caption] If price closes above 1330 we could see a test up to next resistance 1340.50 then 1358.75. We are still under the resistance from the Bin laden break out. Point of control is 1317.25 for this move up and will be around 1326 dependent on the after hours trading for Sunday and Monday evening. 
[/caption] The point of control on the daily chart is 1302 with the buyers in control in today's session.looking for a high of 1317 with consolidation at the top of this move up. We are approaching the resistant trend line in this bearish channel that started this May and has continued. If price breaks above he the 13220 mark we could look for a move to 1340a and then to test the pre-Bin laden rally before the drop. Support is coming in at 1290 then 1271. On the short term charts we are looking for a test of support at 1308 and then consolidation between there and the swing high of the day. 
[/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Bullish trend continuing, after hours ranging between support at 1291.50 and resistance at 1294. If price breaks through resistance at 1295 price target to test top of the bullish channel, if price drops below support at 1294 target is 1286 then onto 1280.25 .It would have also broken through channel support so prices could go down to test 1273 and go as low as 1270. Trade what you see. 
[/caption] The point of control is 1279.50 with resistance at 1287.50. Buyers are in control from pre market NY open from 8:30 am. If we can close above this resistance at 1287.50 we could test up to the 1297 area and the next area of resistance. Seems like there was a lot of support at 1257-60 so this will be the area to watch if we test down again. If we break under there the next area of support could be around the 1235 area and from there we are looking for 1165. Trade what you see, always use a stop and do your own work. I put these areas of support and resistance up for my group and enjoy hearing from those of you that are using them in your own work. Remember to always do your own analysis and never rely on some one else's work. Trading is your own responsibility. We will be having a day trading course in Montreal July 9-11. Join us and become part of our trading community. 
[/caption] If the resistant trend line on this bearish trend holds with lower highs at 1278-80 we could see a test down to 1268 area then another attempt on breaking through the support in the congestion zone from 1257 to 1260. The next area of support coming into 1252 then 1243.50 then extreme low of 1235. If the S&P500 emini futures contract bounces off the 1268 support and then moves through the bearish resistance line, then watch for a move to 1285, then 1293 and maybe a move to new highs by the end of the week. We are consistently seeing volume approaching the 2million mark with the high volume days controlled by buyers. It is almost as if we are seeing the invisible hand at the these support levels. A little early in the season for the turn, which normally comes 2nd week in September. If you are unfamiliar with this type of information and unaware of some these settings in the market place join us for a day trading course in Montreal, July 9-11. We have spots open. This will be an amazing event for most traders as they will get their break through with risk management and get their edge in the market place. Trade what you see. 
