S&P500 day trading course High volume into the weekend doesn’t show any type of capitulation, looking at the industry vs. retail and support and resistance. We will be in Seattle for a three day course, join us.
The S&P emini opened at 1087.25, up 1tick from Tuesday’s 1087.00 close. With the gap closed instantly prices floated around for the better part of the day working their way down to test support at 1081 a couple times. Around 2:30pm market time prices hit a low of 1078.50 but could not move through the support. Prices began a 17.75 point move to the upside, moving to a high of 1096.25 shortly before close. Trading closed the day at 1094.00 moving into another area of resistance.
Watching prices on Thursday for another test to 1100.00 area. If prices move through there then we could see the 1112.50 area as the next level of resistance. If market makers decide to move prices down we will be revisiting the 1080 level once again before we go anywhere. 
S&P500 daily chart with the break of the top and the first part of a 50% retracement from the previous swing low.
S&P500 day trading course Jan 26 daily Chart
1084 is the first area of support on the basic fib re tracement. Most of the market is watching this level for a further move down in the AH and for a commitment on direction from the next area of consolidation.
Obama’s Middle class speech on his performance shall be amusing.
Will it effect the markets?
Will it be realistic to the 18% + unemployment in California?
We shall see.
Nextarea of support after 1070 is 1051-3 area, looking for a test in to this for direction, if it is committed then looking for 1021, then 1008.
We shall see.
