S&P 500 day trading course open gaps and targets.
Day Trading Course – S&P 500 moves to test 1180, Are the Bears Done Yet?
After yesterday’s move down and test on the 1180 area of support, most are begging to wonder if this will be it? or if this is only the beginning. Well perhaps a bit if both is approprate. However for now I am only interested in what is to come for today and maybe the rest of the week.
Day Trading Course teaches how to read the market and understand key concepts in risk management, entries, and targeting efficiently.
As you can see in the chart below the move to the 1180 support has touched also to the Fibonacci 50% retracement line, a great place for a turn around. With price having moved back to the 1290′s and now testing the 1285 area going into the open, it could be anybody’s day today including slow and consolidated as trader may be indecision after this 100 point move down. If price moves up and off of the 1185 area on the 4 hr chart this will give us a higher low, which in turn could give us a higher high to look for. Key area’s we will watch for should we get the turn and signal will be the 1296.00 and the 1206.50 area’s. From there the longer term upside targets will be the 1215.00 and 1220.00 area’s.
Day Trading Course teaches methods for successful trading in even the most volatile markets. Come and join us for our next live event in a city near you.
If we see price break through lows once again, then on we could go to test into the 1260, and even the 1240 area over coming days. As more comes from Eurozone news as well as the US, this market has certainly seen a lot of emotion in recent months. One thing is certain about this market…. The roller coaster ride is not over yet.
Day Trading Course, S&P 500 Drops sharply on concerns in Europe….. (Again)
S&P along with other equities markets fell yesterday on concerns of contagion of debt crisis to Italy. The S&P fell some 47 points to close yesterday at the 1225 level of support. Today could see a retracement of that move, or even the continuation. Upside targets include1242.50, 1254.00, 1259.00, and 1273.50. While the continuation to the downside could see prices move to touch 1222.00, 1200.00, 1194.50, and1180.00 over the next little while. 
Day Trading Course, Euro drops sharply due to talks of euro zone split.
Euro dropped sharply on concern of
contagion of debt crisis to Italy. Top rated bonds rallied as French
and German officials held talks on splitting the euro zone. Equity markets
dropped reflecting investor fears of economic slow down led by Europe.
German inflation figures released show a stable inflation at
2.9% last month. However the inflation rate is considered of second
importance compared to the possibility of a recession in Europe. The ECB last
week cut interest rates in an effort to boost growth with the risk of worsening
inflation in countries such as Germany.
