S&P500 Daily Trading Course – NY Close
After overnight trading, the market opened this morning at 1101.25, very close to where it had closed the day before. The bears were definitely in charge today, because the market never got above 1101.50, and there were two very sharp and quick sell-offs, the second of which was about 10 points just before the close from 3:56 PM to 4:01 PM market time.
The range was 1101.50 to 1083.25, and the market closed at 1089.50.
There are still three recent open gaps at 1066.50 down and at 1112.75 and 1156.25 up.
Good luck, enjoy the 3-day holiday weekend, and always trade only what you see.
S&P500 day trading course NY close
S&P500 day trading course NY close Today the buyers gained control.
S&P500 day trading course 5-28 daily chart
We had a very large move up from the open today at 1060 with a close above the 200MA
The close above the 200 MA is significant to this market at 1100 is the psychological point of control. If we broke under 1000 the investors would not be enticed to enter the market.
At 1100 and above investors think there is opportunity and safety in buying into the market.
Point of control will be 1102.25, with a test to support and the 200MA. The fist level of resistance will be 1110.25 with the next area aof resistance at 1119.25.
If we have a sell off into the close watch out for the last 30 minutes. Remember Monday, the markets are closed, who wants to hold into the weekend?
Always manage your risk, trade with a stop and always take a profit.
S&P500 Day Trading Course – NY Close
S&P500 day trading course 5 min chart
The market opened today at 1081.25. And after an early morning rise to the 1089 resistance level, the bears took over after that, particularly after the 2:00 reversal, and the market sold off for the rest of the day to close down at 1066.50.
