Day trading course - bearish

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

There has been a retraction and the S&P500 has given up its gain from last week from a high of 1290 to where it's at right now at 1232.50. It has pierced and broken through the support at the bottom trendline and now is on its way down to test the next target at 1230. There is a very strong level of support at 1216.

If the bulls move in the 1st target is 1241. The next target is 1248 then onto resistance at 1261.25. The outer resistance level is at the top of the channel at 1273.50.

Trade What You See

 

day trading course

Day trading course - Just when it seems alright

Day trading course, learn how to day trade stocks and futures.

The S&P500 emini futures lost a little steam and saw some minor profit taking from 1290.    Looking for a point of control around 1275 for the buyers to take back control today and retest the highs.  If we see price failure on the approach to 1335 then we could look at consolidation in to the end of the year.  Would not seem consistent with most year end rallies. The S&P500 is showing support at 1261 with major support coming in at 1252 and 1246.25.  This could be the formation of a bullish flag on the daily with a bit of consolidation at present levels to get a break of the ceiling. Major Resistance is coming up at 1300 Mark.  Market volume is slowing, probably because of the MR Global insolvency and the CME cancelling all the orders.  Needless to say the Euro has rallied to a lower high after all the bail outs.  Too bad there is no commitment to fix the problems, just kick the can down the street.      

day trading course

Day trading course - bearish channel

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

The bears had it in the AM and they drove the price down to touch and test the support at the bottom trendline of the bearish channel. The bulls came in to rally upwards and have been testing resistance at the upper trendline. The buyers and sellers are in indecision right now.If the buyers move in and push price past the resistance at the trendline, the next target is at 1240. They could rally all the way up to the next target at 1252.50.

 If the sellers come into the market to continue the current trend the first target is 1228, second target area of support is at 1224 and if that support gives way 1220.25 is the next level. If this support gives way price will go down to test the support at the downward channel bottom trendline.

Trade What You See

day trading course

Day trading course - bullish trend

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Bullish trend has been pushing prices up since last week. The price has been steadily declining slightly till the support 1242 was touch and tested. A subsequent price reversal has movement upward and testing the resistance at 1249. Buyers could move prices up to test next target at 1252.50 and upward to top trendline of bullish channel.If bears come in 1st target would be bottom trendline, 2nd 1242.50. Next support 1232 onto 1226.50, Next target after that is 1215.75.

Trade What You See

day trading course

Day trading course

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

The prior support has become the resistance as the upper trendline of the bullish channel. There was a rally to this resistance level with a touch and test of resistance then a retracement to test support at the lower trendline.

Now testing a resistance level at 1228.75. If there is a breakthrough of resistance 1st target 1230.25 to 2nd target at 1225.50 and then onto upper trendline. If there is a selloff 1st target 1223, next target 1215.50 . If the support gives way, next target is way down at 1202, then 1196.50. The outer target is at 1185.75

Trade What You See

day trading course

Day trading course - shallow bearish channel

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Sellers have driven the market down to test support at 1192.50 with a retracement to test resistance at 1211.75. At this time price is in a tight range signalling indecision. If buyers come in there will be a test to the upper trendline of the short term channel. Next target would be 1211 and if that gives way buyers will drive price up to test the next target at 1215.75, then onto the upper trendline of the long term channel. If the bears come in look for price to reach the first target at 1201.75. If the support gives way the bears will take the price to 1196.75 to test the support at that level. The next target of support would be the bottom trendline of the long term channel and onto the bottom trendline of the short term channel.

Trade What You See

day trading course

Day trading course

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Market was in consolidation until around 2:30 PM, when price tested and broke through support of the bottom trendline at 1215.25 where it plunged to its present range between support at 1203 and resistance at 1208. If support is strong buyers will come in to drive price up to test resistance at 1215. Next target up would be the top of the channel then onto 1223, then 1227 and top at 1229.75.

If support gives way sellers will take over to try to test targets at 1203, 1196.25 and then way down to 1187.25.

Trade What You See

day trading course