day trading course
Day Trading Course, Better US Data Along With Bond Auctions Boost Investor Confidence
Riskier assets continued to grind higher
during a week in which US earnings and economic data, along with solid European
auctions created a calm market environment. The US earnings season for
stocks recently began and of the 10 percent of companies that have reported,
more than 70% have exceeded expectations. Implied volatility also declined,
pushing the VIX volatility index below support.
The euro has improved over the past week as bond auction results have
been better than expected and economic data and news developments have been
subdued. However, despite the recent short-covering rally seen over
the past few weeks, the political uncertainty and periphery debt risk should
eventually weigh on the currency. Next week, Portugal, Greece, Spain, Italy,
Germany and France will test the debt markets. While the ECB’s LTRO operations
have helped in part to stabilize funding market stress and immediate market
pressures, helping to mitigate sovereign risks, the recent string of EU auctions
are just the beginning of the funding season. Indeed, the real test for markets
will come in later in the first quarter with Italy and Spain’s bond redemptions
totaling nearly 70 billion Euros.
Next week, the highlight of the US calendar is likely to be the FOMC
meeting on 1/25/2012. The first meeting of 2012 will bring a shuffling
of the voting rights among the FOMC district president. This week’s FOMC meeting
is likely to bring forward a new communication strategy by the Federal Reserve.
In particular, policy makers are likely to make public member’s projections of
the appropriate policy rate in the years ahead to increase the Fed’s
transparency.
In the US, the economic highlight was the better than expected
jobless claims report. Initial jobless claims fell by 50,000 to
352,000 in the week ended Jan. 14, according to the Labor Department. The
decline was the largest in a single week since Sept. 24, 2005. Jobless claims
have now returned to levels seen before the US financial crisis. Economists had
forecast claims would fall by 19,000 to 380,000.
Initial jobless claims fell by 50,000 to 352,000 in the week ended
Jan. 14, according to the Labor Department. The decline was the largest
in a single week since Sept. 24, 2005. Jobless claims have now returned to
levels seen before the US financial crisis. Economists had forecast claims
would fall by 19,000 to 380,000.
Euro
short squeezes up
Technically, the Euro was able to rebound off of the recent lows near 1.26
and create a short squeeze up to 1.29. Last week commitment of traders report,
showed a record short position in Euro futures which is bound to cause
additional short covering. A break above horizontal trend line resistance near
1.3070 will likely lead to a quick test of the 1.32 range.
S&P likely to test 1325
The S&P 500 broke above resistance
levels near 1306, and is likely to continue to grind higher to test the 1325
resistance point. Momentum indicators such as the MACD are pointing to higher
levels as the index moved above 1, for the first time in 6 months.
Additionally, the cross of the 50-day moving average of the 200-day moving
average should add upside momentum.
Day Trading Course, How do you ride a rollorcoaster?
Anyone trading in the market these days will have noticed one thing if nothing else. The markets this last little have been pretty much like that of a roller coaster amusement ride. For some people (Day Traders in particular) a lot of fun with large intra-day swings that can turn HUGE profits in short periods should you be on the right side, while others are scared to death (the average investor) fearing that any day now with these crazy moves they will watch yet another chunk of their portfolio disappear into the abyss. The question is… “Which are you?” Are you getting the results that you want? or are you running scared as every time it seems as though it could pick up and move in your favour, you seem to get get an unexpected turn against you? If you are the second there is good news. You can do something about it, and that is what I encourage you to do. Instead of watching from the sidelines or even worse watching your money disappear into the previously mentioned abyss.
That being said, let’s take a look at a chart of the S&P 500 to get an idea of what “could” happen over the next few days and possibly weeks. Looking ar the daily chart we can see that since hitting the 1370 high in the last couple days of July, and the beginning of August when we hit the first low in the 1080.00 area we have been riding the previously roller coaster. These ranges have traded sideways into a tightening range for 5 months now, forming a painfully large and long running pennant formation. As we continue to see lower highs followed by higher lows our range continues to tighten as we wait for the unavoidable choice in direction to follow.
Day Trading Course
What direction you ask? That is for an upcoming post, right now we will focus on getting you through the next few days and possibly weeks. On the chart we can see that as of today’s close we are touching into a very important area of support. That area is pretty much the point of control for this range we have been trading the last few months, the 1200-1210 area. Should the support hold here, we will watch for the move back to 1220, and then 1250. Should this 1200 area not provide the support needed to hold this market up, the next stop will be the 1185.00 area. This will test again to find out if this 5 month trend will continue to hold or break out into direction. Should support hold, this pennant could continue to trade into the new year as things continue to drag on. This could take anywhere from the next couple days until the end of next week to play out, then based on the move we get there we can then look at targeting the next. Until then, Trade what you see. I’ll see you at the starting line!
Day trading course will be in your area soon, join us for Day trading education.
Day trading course will be in your area soon, join us for Day trading education.
The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.
Disclaimer: day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.
Day Trading Course: Price moves strongly off of trend line
Day Trading Course, S&P 500 price is moving strongly off of support day traders are buying.
Day trading course focusing on the S&P500 emini futures support and resistance.
Initial jobless claims were announced today at 8:30 for the week of 12/03/2011. They fell 23,000 from the previous week, the lowest since February. The report was considered welcome, with the caveat that we need to see it supported in later weeks to believe it is good news! (Dare I comment on that?!) Then, during the hour before the opening bell, price ranged 22.50 points with bears taking control. The sellers had control for most of Thursday’s trading. Price moved steadily down in waves, ranging 25.50 points from the open at 1253.25 to close at 1230.25
Day trading course looks at price and direction, the support and resistance and the direction of the market.
If we look at a weekly chart we can see that price has touched the upper trend line and moved away from it. If we look at a daily chart we see price kissed that trend line three times before moving down. Is price far enough away to not be tempted to
kiss again or will it return or even go for more? Watch price action and see.
If sellers continue with control as we close the week, look for the next support around 1226.75. If price moves below that price, it could drop to possible support around 1214,
1210, and 1205. If buyers take control, expect resistance around 1256.50, 1266.75, then 1274.
Trade what you see! Marie May
Day trading course will be in your area soon, join us for Day trading education.
The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.
Disclaimer: day trading course is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.
