S&P 500 Day Trading Course Gap for Dec 16, 2009 Support and Resistance
Another consolidated day in trading today as prices opened at 1105.00, down 4 points through the overnight. With a very slow start prices began trading up 4.5 points to the high of 1109.50, then worked thier way down to a low of 1100.25 where prices met support and turned back up. Close was m1104.00, down 5 points from yesterdays close. The gap was filled at 1109.00 while the day’s range came in at 9.25 points.
An increase in seller volume brought prices back to the 1100 level today, watch for volume invreses on Wed to decide on direction for the rest of the week. If we break through support at 1100 we will be heading for 1085 again with possible stops at 1094, and 1088 along the way. If the sellers don’t step up we will be stuck in this range btween 1100 and 1113 until somebody make a move. 
S&P 500 Day Trading Course Gap for Dec 15, 2009 Support and Resistance
Consolidation is the word of the day again today. Opening the week at 1108.50 and trading a 6.25 point range throughout the day. Prices topped out at 1110.25 and bottomed at 1104.00, giving us a slow start to the week. Keep in mind that this is the last full week before Christmas so prices may see some congestion as volume could be a little light into the new year.
Still watching the key levels at the 1116.00 and 1100.00 areas. There could still be time for some moves, we will just have to see how long this consolidation will last. Even last week was consolidating from Wed-Fri with ranges in the 6-7 point area. 1108.00 is the point of control for tomorrow as we wait to see if there is anyone ready to make their move. Keep watching, the trades will come. See you at the starting line!
S&P 500 Day Trading Course Gap for Dec 14, 2009 Support and Resistance
Another consolidated day with prices stuck in a 7.5 point range throughout the day. Trading opened at 1106.25, traded to a high of 1108.75 then back and forth throughout the day. The low came in a 1101.25, just closing the gap from Thursday’s close. Prices closed up one tick from open at 1106.50.
Still watching the 1116.00 area as prices are making there way back there again. One the lower side we could see prices revisit the 1100.00 level of support, then 1095.25 with an extreme low around 1088.50. See you at the starting line!
