Day trading course SP500 into resistance

Day Trading Course, S&P 500 resistance into consolidation, the bulls could take a break as buyers exhaust. 

After yesterdays huge range, 1183 - 1247.25 buyers are probably exhausted.  Expecting to see some price consolidation at the top.  If sellers step in, they will probably be quite weak wondering if there will be action by the Central bankers to commit after their agreement to support the Euro.  A big misconception is that the US Fed will be supporting the European Bond Market.  The chance that they will be directly buying into the troubled European bond market is slim to none. Day trading course looks at price and direction, the support and resistance and the direction of the market.   Day traders are watching 1242 for the Point of Control.  It seems that in the morning session the buyers had short  term control of the market and it looks like sellers took back control.  There are many levels of support around 1240, would expect there to be a lot of chop and indecision. If sellers have no real commitment on taking this back to at least 1232, we might see this close over 1247 giving a small doji on the day.  This type of indecision could bring a turn for a test to 1232 then 1226 tomorrow with an extreme low on the day of 1211 and 1202 for support. Buyers could close this above 1257, if there is a volume commitment [...]

day trading course

Day trading course - retraction

[caption id="attachment_4458" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Retraction with a downward move to form a bearish channel to test support at 1183. On upward with buyer pressure to test resistance at top trendline of the bearish trend. Now indecision between 1186.75 and 1188.75. If resistance at 1188.75 breaks through next target is at top trendline. Next target is 1192.75. The next target would be resistance at the former support trendline to 1203. If sellers come in and break through support at 1186.75, next target 1183 and on down to bottom trendline. If support gives way next target is 1179. Trade What You See

day trading course

Day trading course

[caption id="attachment_4453" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Buyers came in and created a big gap from 1157.25 to 1172 and has been bullish since. At 1196 cosolidation with a subsequent move down with pressure from the sellers. If the support at 1180 gives way sellers will be trying to test the support levels at 1176.25 and 1170.50, onto looking at trying to close the gap. If support levels are strong and buyers pressure comes in, first resistance is at 1188.75 and on its way is the next level at 1196. Buyers could push to test resistance at top trendline of the bullish movement. Trade What You See

day trading course

Day trading course - bear trend continues

[caption id="attachment_4447" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. As we enter the Thanksgiving holiday the bear trend has continued its downward path with a pierce and test of the  support at the bottom trendline. Look for light volume with consolidation in the 1167 to 1178 range. When the market picks up buyers could take price up to test the resistance at the upper trendline with the next target area at 1192.25. If the bear trend continues he first target is 1168 and on down to test the support with a target at 1158.75 and then onto the support at the bottom trendline of the bearish channel. Trade What You See Happy Thanksgiving

day trading course

Day trading course -

[caption id="attachment_4441" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Sellers have price traveling down a bearish channel with a touch and test of support at the bottom trendline around 1180.50. Buyers came into drive price up to test resistance at the upper trendline. There is now indecision with some testing of support in the area of 1191.25. If support gives way at 1191.25 next target is 1185.25. If support gives way next target is 1180.50 and on down to test support at bottom trendline. If support holds at 1191.25 first target is the top trenline of the bearish channel and onto 1200. If price breaks through resistance at this level the next target is 1209 and then will try to fill in the gap onto outer target at 1217. Trade What You See

day trading course

Day trading course- Market at major decision point

Day trading course - The S&P 500, DJ transports and a few other indexes are lookig at a major decision point in the Market.

Greece is gradually being ignored because of the size and turmoil we are seeing in the European banking community over Italy.  Spain is also in the line up for a drubbing as they realize that the basis for real estate loans is whether you have money or contacts.  The appraisal system is almost non existent.  China also is being quite as today we have learned that their mythical reserves are exactly that " a myth" and won't be issuing money to the EU or the IMF to bail out Italy and Greece.  The European central bank could be warming up the printing presses as Italy agrees but does not commit to taking any actions.  Just a reminder, it took Greece almost a year to impose their Austerity measures on the country and their opinion now is that it is too late, so the hair cutting party could be on.

Day Trading Course focuses on key support and resistnace levels and teaches how to see the direction in the market to make profits.

The S&P500 emini futures has tested the 200 Moving Average (in red) on the daily chart three times.  The buyers pushed up three times to break this high but instead were loosing momentum on each try.  Sort of like Greece.  We are gradually headed to the supporting long term trend line where will start to see support coming in around 1205-7 and 1214. Presently the 50MA [...]

day trading course

Day trading course -

[caption id="attachment_4370" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. In the last couple of days there was a rally up to 1275.50 with price holding in that resistance zone. A subsequent move down to test support at bottom trendline. a retraction to present price levels with another pennant forming due to indecision, ranging between support at 1236.75 and resistance at 1239.25. If buyers come in next target is the top line of forming pennant onto the 1248.25 - 1251.25 zone . Outer targets are 1267 onto 1275. If sellers push price down target is 1236.75. If support gives way, next target is 1224.75 and down onto bottom trendline of the long term channel at 1218.75. Trade What You See

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