S&P 500 Daily Trading Course – NY Close
S&P 500 Daily Trading Course - 5 Minute Chart
After a good run to the upside right after the opening bell, the market traded in a fairly narrow range for the rest of the day until about 45 minutes before the close when a sharp sell-off occurred, causing the market to be down about 8 Points for the day.
The market opened today at 1034.50 and closed at 1026.75.
The trading range for the day was from a high of 1043.75 to a low of 1023.50.
There is a recent open and unfilled gap from last week at 1087.00, and one from Monday at 1070.50, both to the upside. There is also an open gap at 1156.25 to the (far) upside from about six or seven weeks ago.
The trend has been mostly down in a Bearish channel for the last several days now, and that could continue tomorrow and on into Friday, which starts a long holiday weekend. There are also several major news items on tap for tomorrow, and also some on Friday, so be particularly aware during those times.
Good luck, and always trade only what you see.
S&P 500 Daily Trading Course – NY Close
S&P 500 Daily Trading Course - 5 Minute Chart
Amidst more volatility and higher volumes than yesterday, the Bears were definitely in charge today, as the market had a sharp sell-off right after the opening bell on bad consumer and international news. The market then traded back and forth in a little narrower trading range and closed down about 19 Points for the day.
The market opened today at 1056.00, which was also the high for the day, and closed at 1037.00.
The trading range for the day was from a high of 1056.00 (as stated above) to a low of 1030.25.
There is a recent open and unfilled gap from last Wednesday at 1087.00 to the upside, and now one from yesterday at 1070.50. There is also an open gap at 1156.25 to the (far) upside from about six weeks ago.
Good luck, and always trade only what you see.
S&P 500 Daily Trading Course – NY Close
S&P 500 Daily Trading Course - 5 Minute Chart
The Bulls and Bears fought it out for control today, and the market ended up closing down about 5 Points for the day on fairly low volume.
The market opened today at 1075.75 and closed at 1070.50.
The trading range for the day was from a high of 1078.50 to a low of 1066.50.
There is an open and unfilled gap from last Wednesday at 1087.00 to the upside, and one from about two weeks ago at 1056.25 to the downside, and also one at 1156.25 to the (far) upside from about six weeks ago.
Good luck, and always trade only what you see.
