Montreal training
S&P 500 day trading course, Sept 3 learn how to day trade
S&P 500 day trading course, levels of support and resistance. Live trading room with Joel Wissing.
Extreme high 1027.75
Extreme low of 973.75
Point of control 994
We slowed down to a crawl today with a very tight and range bound trading day. Volume dropped off to 1.9 million today after yesterdays 3 million plus. Hopefully the market will face the piper on some of the valuations in equities and get this cleaned out in the third quarter. September is known as the worst performing month on the indexes and it has basically started off with the kind of direction to propel the markets lower. Lots of support here, but for how long?
Join us in Montreal for a live training on October 3-5 with 1 day of live trading and 13 weeks of the live trading room.
Day Trading Course, S&P 500 Sees 40 Point Sell Off
Day Trading Course, Sell off to new lows? Check out the chart below.
Today’s trading broke sideways channel support this afternoon as traders took and sold positions after this afternoon’s FOMC rate announcements. Price moved from an afternoon high of 1196.25 to a low of 1155.00 before closing trading at 1156.00. With this 40 point move to the downside this afternoon, we can expect to see price move to touch on the
1153.00 area of support.
With a move through the 1153.00 support, next low side targets will include 1145.00, 1137.75, and 1130.00, with 1109.75 as an extreme low.
Should a retracement step in before a move down continues, price levels to watch for on the retrace will include 1158.75, 1170.00, and 1179.75.
Day Trading Course, S&P 500 Daily Price Action
After Friday’s 1331.00 close, after hours trading has moved to test the lower side of the bearish channel going into the open. With price trading at 1315.50 and testing a low of 1312.25 early this morning. Today’s trading could see price move to retrace some of the move down with 1320.00, 1325.50 and 1329.25 as upside targets. However if the selling continues to come in heavy price could see more pushing on the bottom around the 1312.00 area, a break through here would clear the way to move into the 1292.50 area of support.
