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Sky is falling Day trading course S&P500 and EU Energy commisioner
“The site is effectively out of control,” Energy Commissioner Guenther Oettinger told a European Parliament committee, according to news reports. “In coming hours there could be further catastrophic events which could pose a threat to the lives of people on the island.”
Day trading course 10 min chart showing the effect of the comments.
Sky is falling
You can see the red arrow is where the announcement is made that the sky is falling.
Previous swing low acted as some support here but will test again probably during the day if there is another explosion.
It seems a lot of traders are sitting on the side lines watching the news ready to short on the possibility of further meltdown.
Be careful trading this as Stops might not be honored in a sell off.
Forming a bearish pennant on the 10 min chart.
Trade what you see.
Day Trading Course, S&P 500 Daily Price Action
Yesterday’s markets headed back up to test the 1285.00 area of resistance, retracing from the overnight sell off as Japan reported increasing troubles. Today’s trading could see a continued area of consolidation, trading since yesterday has had trouble getting out of the 1272-1279 area and continues to trade the 7 point channel. However a break below the 1270 area could signal a breakout and clear the way for another downside move. 1267.50, 1260.50, and 1253.00 are area’s to target if another move down comes into play. If price finds support and moves back to the upside, 1279.00, 1284.50, 1289.00 are my upside targets with 1300.00 as an extreme high.
S&P500 day trading course daily chart
S&P500 emini futures daily chart with levels of support and resistance in the live day trading room.
S&P500 day trading course daily chart
Looking for a test ofthe previous swing low at 1052.
If price breaks through here in the after hours we are looking for first area of support at 1048.25 then 1032.25.
Below the 1032 area I have the extreme low at 1019.25.
Could be lower if we have a sell off. Then I would be looking at the breakers for 963 area.
Watch out for Europe and news coming in around London closing.
