Money Maker Edge
S&P 500 Daily Trading Course – NY Close
S&P 500 Daily Trading Course - 5 Minute Chart
The Bulls were in charge of the market today, as the S&P 500 just barely went below the opening price level for a very brief time and finished up about 14 Points for the day.
The market opened at 1072.75 and closed at 1086.75.
The range was from a high of 1087.75 to a low of 1071.75.
There is now a new open and unfilled gap from yesterday’s close at 1056.25 to the downside.
And there are still three recent open gaps at 1156.25, 1112.75, and 1102.50, all to the upside, as well as some old gaps to the downside from July, 2009 that were never filled, at 972.25 and 902.00.
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
After some initial posturing and indecision, the Bulls took charge of the market early on today, but then the Bears were mostly in control for the rest of the session to record a loss for the day.
The market opened at 1067.75 and closed at 1056.25.
The range was from a high of 1077.75 (which is a resistance level) to a low of 1051.25.
There are still three recent open gaps at 1156.25, 1112.75, and 1102.50, all to the upside. But there are also some old gaps to the downside from July, 2009 that were never filled, at 972.25 and 902.00.
Good luck, and always trade only what you see.
S&P 500 Day Trading Course Gap for Aril 22, 2010 Support and Resistance
Volume increased Wednesday to 2.15M contracts, and we saw a little more movement for it too. Prices travelled 12.5 points through the day topping out at 1207.50 around 10am, then turning and marching down to a low of 1195.00. Prices then retraced most of the move down in the last hour of trading to close the day at 1201.75.
For Thursday’s trading prices could be looking at a retest of the 1183.50 area of support, with the retest of the 1203 are in the overnight trading and a sell off in the pre-market news release we could see a large sell shadow on the longer term charts. Watch for price to break the 1295.50 level as an indicator for downward direction. Should price move to the upside we do have 2 gaps at 1201.75 and 1208.25, those may make good targets if the upside move comes in.
See you at the starting line!
