S&P500 day trading course price action

S&P500 day trading course areas of support and resistance and price action. Looking at the 240 min chart areas of support and resistance on the S&P500 emini futures contract. [caption id="attachment_3409" align="alignleft" width="276" caption="S&P500 day trading course price action"][/caption] Levitation in the market place as low volume and a lack of volume increases the effect of buyers entering the market. Resistance will come in 1241.75 after this morning's run up. watching for a break to upper trend line around 1262.75. If we make it through here and can see some Christmas glee in the form of increased consumer spending, looking for a top around 1285. This is a longer term picture for the month with support coming in at the point of control for today at 1237.50 with sellers in control under here. The next area of major support will hit around 1229 then 1215-18. If we do get a break of this area we might see the 200 MA on the 240 min touched at 1205. Will be a consolidated area to trade this next week as most investors will be in the "let it ride" cycle of the year. S&P500 and Tuesday's FOMC meeting In all likelihood it's going to be a quiet FOMC meeting this time around – in stark contrast to the hugely anticipated QE2 announcement meeting last month. At the last meeting, the Fed announced some $600bn of Treasury purchases extending into Q2 2011, but the effects of that injection will take some time before they filter into the key economic data that the Fed is monitoring. In fact, the data since that meeting has been far from [...]

S&P 500 day trading course

S&P500 day trading course mid day price action

S&P500 day trading course live trading room price action on the S&P500 emini futures contract. [caption id="attachment_3402" align="alignleft" width="276" caption="S&P500 support and point of control"][/caption] Point of control for today is 1183.50 and the buyers can barely keep it above this level.

S&P 500 day trading course

S&P500 day trading course buyers lacking commitment

S&P500 day trading course, buyers lacking commitment, Dollar strength is holding market down even as we are entering the next phase of the Invisible Hand. Whether Goldman Sachs is rolling some of the QE4 billions into some equities and futures contract is left to be seen. We have an decreasing commitment on buyer side to hold this up as we test the previous swing lows. [caption id="attachment_3399" align="alignleft" width="276" caption="S&P500 day trading course price action into support"][/caption] Looking at a point of control around the 1183.25 mark on the day, presently buyers have retraced the contract back above here. Next area of support from here is the 1171 swing low the n1168.25 and an extreme low of 1155. A rally on the Euro could push these markets back up but would expect to see some resistance around 1190.50 and then 1200. Our next swing high target is 1208 then to 1217. If sellers are to jump in front of this train it would be under some kind of intervention as manipulation of Consumer confidence figures have done in the past. It is always three months later when get the adjustments that we get to see the real picture. Watch for a break down in Gold too as we are hitting resistance and could see a H&S execute. That would really push this up.

S&P 500 day trading course

S&P500 day trading course hitting support

S&P500 day trading course hitting support at 1175. It doesn't retrace to the previous swing low at 1171 area. [caption id="attachment_3394" align="alignleft" width="276" caption="S&P500 day trading course price action into support"][/caption] Point of Control for this move is 1179.50 as we are testing both sides in the after hours. The Point of control for the week is 1188.50 It looks like we are entering into a W pattern on the 240 min for another run at the top.If we can not breach the 1206 previuos swing high and sellers distribute from this area we could see a quick sell off. With Ireland on the rocks and the increased pressure on gold accumulation if we see a double top or new highs we could see more dollar weakness and another rally on this market as emphasis swings away from the Euro and then to the Dollar.

S&P 500 day trading course

S&P500 day trading course Quantitative Easing

S&P500 day trading course Quantitative Easing Explained. Very entertaining and easy to understand. In a recession the Fed, Central Bankers of America, wants inflation not deflation. When Americans need prices to be low, they are trying to inflate prices. Fed has never been right in their policy. Ben Bernanke has no business experience and has never been elected. The Fed has no authority to commit Tax dollars to purchasing of Treasury Bonds.

S&P 500 day trading course

S&P500 day trading course price action

S&P500 emini futures day trading course levels of support and resistance.  We are looking at the 240 min chart.  The daily point of control is 1195. [caption id="attachment_3388" align="alignleft" width="257" caption="S&P500 day trading course price action"][/caption] We broke above the mid term point of control at 1189 and are testing the buyers commitment to take this above 1200. Lots of resistance here as we are almost glued to the 50MA. Looking for support to come in at 1189, and 1185 in short term with 1172 as an extreme low. Resistance will be coming in at 1200, 1207-9 and then 1216.

S&P 500 day trading course

S&P500 day trading course price action distribution exhaustion

S&P500 day trading course price action distribution exhaustion in the S&P500 emini futures contract.  From our highs on Friday we have a 33 point distribution from 1204 to 1171.  Tuesday shows a bit of volatility on the move down with heavy selling into the afternoon and then a consolidated range into today. [caption id="attachment_3382" align="alignleft" width="257" caption="S&P500 day trading course price action distribution exhaustion"][/caption] Todays point of control is 1180.50 and so far the Sellers have held the market.  This is a very tight consolidated range from 1178-1180. We have support at 1177 with a major support at 1171 then 1165, 1154 and an extreme low of 1127.75 . I am not looking for any volatility this afternoon, probably more as we head into the weekend. Our Resistant trend line is coming in around 1186 converging at the 50ma. If we get price failure on the hourly with inability to move through or close above 1186, then we might see more to the downside as a continuation of Friday's move. 1189 is the point of Control for accumulation if this move down is to be reversed by the buyers.  Looking for more accumulation to occur from this point and watching for resistance at 1193, 1204, 1209 in short term.  If we can close above 1209 the market looks clear to make an attempt on previous swing highs.

S&P 500 day trading course