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Day Trading Course, Greece ditches plans for referendum while ECB cuts rates
| Headlines from Greece are likely to dominate price action after the weekend. The political chaos in Greece continues despite an announcement Thursday evening by Prime Minister George Papandreou that he will call off the referendum if the opposition agrees to the bail-out package. The opposition party appears to have little interest in a government of national unity, preferring to position itself against Papanderou. The week began with a call from the PM that he would take the issue of remaining in the EU to the people and call a referendum, which created extreme volatility for capital markets throughout the week.Greek Headlines managed to Overshadow the ECB Rate CUTOn Friday night in Euro, Greece undertook a confidence vote. Papandreou won on a narrow margin. He is however expected to resign , opening the path for a change in government and early elections. Greece is expected to receive the 8 billion EUR of aid before it runs out of cash around December 15. However future political instability in Greece may hamper effective implementation of the austerity plan. In the US, the week experienced a plethora of Gold Gold prices broke to the upside moving above resistance near 1750, and
Challenging The Euro plunged early in the week, moving from above 1.40 to test the 1.36
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Day Trading Course, S&P 500 is it time to take a break?
Looking at the way the S&P along with some of its partners like the Eur/Usd and oil have run straight up the last few weeks. One has to wonder when this move will run out? Both the Eur/Usd and S&P 500 are opening on the supporting trend line today. Breaking of this support could be key in looking for the the place day traders will start a large 
retracement on this 210 point, 3 week move.
Day trading course day traders focus on Support and resistance in the price action.
Support on the S&P will be in the 1255.00 area today, while the Eur/Usd support is in around the 1.4000 level and Oil shows the 90.00 area as the place to start looking. From an S&P stand point we will be watching for the break through 1255.00, then downside targets we will be looking at should it continue include 1250.00, 1242.00, with 1230.00 and 1215.00 as extreme lows. If the support does not break, watch for consolidated trading in the 1250.00 – 1280.00 range until the next peice of news come out to give direction.
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Day Trading Course, S&P moves on “Clear Signs of Progress in Europe” and positive U.S. GDP
Day Trading Course, S&P moves on “Clear Signs of Progress in Europe” and positive U.S. GDP
The S&P 500 rallied 45 points yesterday as a reslut of Positive US GDP numbers and the EU summit agreement on Greece and ESFS. The S&P traded right into resistance in the 1275-85 level and is opening today’s trading at the 1275.00 area. Today’s trading could see a continuation of the upward movement if investors continue to take on more risk in the stock market.
Day trading course focusing on the S&P500 emini futures support and resistance.
Should trading open with a retracement, 1270, 1266 and 1255 will be the downside targets for today, with 1284.50, 1294.00, 1300.00 and even 1307.50 as high side targets should the rally continue into the weekend.
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