derivatives market
Day Trading Course – Indecision as Pennant tip forms
Day Trading Course, S&P 500 Going into consolidation and forming a pennant.
Day trading course focusing on the S&P500 emini futures support and resistance.
Two days into
trading this week and the market makers seem to be biding their time. After the
retail Black Friday low of 1146, price moved steadily up as buyers took control,
always testing higher, although not always closing higher. That is, until
today, when the market closed at 1254.75, slightly lower than yesterday’s close
of 1255.25.
Looking at a 1440 min. chart, there is a pennant build-up and the bulls and bears are near a decision point, hopefully. Buyers are not showing much commitment. The market
is also trading around the 200 SMA, yet again, which can have a lot of “pull.”
Look for more possible resistance in a 10-point range where price currently is. If the buyers take more control, look for further resistance around 1266.50, 1275, and 1291.
Beyond that, there is the psychological resistance and predictions of 1300, and
the July 7 & 8, 2011 highs around 1345!
If sellers get momentum and power, look for resistance after 1248 at or around 1234, 1224, and 1213. Beyond that? Remember the low of 1146 just this Thanksgiving Black
Friday. And further back, in early August of this year, and again at the beginning of October, price fell to around 1067! What would it take to go there again? Read the
blog entry of Joel Wissing on December 4, 2011 at moneymakeredge.com for
insights into the world scene and how it is affecting the market.
And always, always, 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 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, S&P continues to close in on 1300.00
The S&P Continues to trade towards the 1300 as it traded up to close at the 1260.00 level on Friday. Trading moved to touch as high as 1270.00 in last nights overnight session before turning and trading down to the 1256.00 area of support.
Day Trading Course teaches you how to see key target area’s in the market while focusing on precise entries along with exact targets.
Trading today will provide up with a small gap to the upside at 1261.75 and traders seem to be happy to continue on this rally. Upside targets for the next couple days will include 1258.25, 1263.00, 1270.00, 1275.00 and 1285.00. Should the market need a retracement today some of the prices we will likely see include 1252.00, 1248.50, 1244.00 and 1239.25. 
See you at the starting line!
Day Trading Course, S&P500 consolidation turns to top side break out?
Day Trading Course, S&P 500 Top side consolidation turns to top side break out?
Yesterday’s trading took us to test the bottom of our pennant formation on the 1hr chart as price dipped to test the 1236.00 area. Then with an afternoon reversal and push back up, price managed to close back at 1257.25. Overnight trading saw price test to the 1250 area of support, then continue trading upwards to test into the 1267.50 area early this morning.
Break of the pennant with test to support
Day trading course teaches how to see direction in the market.
Today’s price could see the test to our latest area of support, with another move to continue this move. Up side targets intra-day will include 1267.50, 1273.00, with 1280.50 and 1288.75 as extreme high side targets. Low side trading could see price move back to test the 1257.50 or 1250.00 area’s, with 1247.00 as an extreme daily low.
From a daily perspective a break to the upside here could see trading move towards the resistive trend line of the previous few months move. 1300 anyone?
area's of resistance ahead
There are two key area’s of resistance that we are moving towards. The first being 1285.00, this area is the first area of major resistance on the move up, only about 20 points from where we sit now. The next is the 1312.00 area. Here we will see if we are able to break through and change this bear to a bull. This is still a little ways away, and only if the 1285.00 area doesn’t slow things down. However, in the meantime it does appear that the buyers are taking control in the short term once again. Trade what you see, I’ll see you at the starting line!
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.
