resistance
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!
S&P 500 day trading course live room Jan 25
S&P500 day trading course Jan 25 Daily chart with areas of support and resistance.
S&P500 day trading course Jan 25 daily
Swing low of Nov. is around 1022 to the high 1150. The 50% re tracement, around 1085 has been touched. Either we will have a stall and a retracement to 1117 area or a move through with larger commitment to 1070.
At this point we would be looking for an ambush.
Remember commitment is the key here with a large volume push to give us a commitment. Watch on 5- to 15 min charts for the doji or real price being contained in a trend, this could be the reversal point or a sign of continuation.
Come join us in Seattle, Wa Feb 20-22.
S&P 500 Nov 12 learn to trade support and resistance
S&P 500 day trading course will be in Seattle, Wa this weekend, join us.
looking at resistance at 1103.50 and at 1111. In the live room tomorrow our Point of control is 1097.25 Weekly, daily and point of control S&P 500 charts discussed.
