S&P500 day trading course pre market levels of support and resistance in the live day trading room for the S&P500 emini futures.

S&P500 day trading course 30 min chart pre market

We are in a short term bullish Channel with Resistance coming in around the 1095 Congestion Zone.  This resistance is the bottom of the zone to 1102.25.

If we can get above this we are clear to 1140 as our next major area of resistance.

Point of control is 1087.50 for direction on Monday.  S&P5oo emini is fully into the September contract as everyone rolled on Friday.

For support watch the 1080.50 area as this also was a major buy zone from 1077.50 to 1080.50.  I dont think we will see a squeeze of these position until later this week.

Remember this move is on slightly higher total volume than on Thursday but not enough to show commitment to get out of this long term bear market channel.

Looking for an extreme low of 1036.75 with areas of support at 1070 and 1062.25 as we come tot

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 Daily Trading Course - 5 Minute Chart

The Bears were definitely in control of the market today, which started with a huge drop at 8:30 AM, before the market officially opened. Due to what was perceived as bad news on unemployment figures and jobs creation, the market fell about 13 points in one single minute, and fell about 18 points in 7 minutes, starting at 8:31 AM. Wow!!!

The market recovered a little after that, but was then consistently and steadily down for the rest of the day.

The market officially opened at 1081.50 and closed at 1062.50.

The range was from a high of 1088.00 to a low of 1059.25.

The most recent open gap at 1066.50 was filled today and now there are three recent open gaps at 1156.25, 1112.75, and the open gap from yesterday’s close at 1102.50, now all to the upside.

The Bulls must be reeling a little after today, so it will be interesting to see what next week brings.

Good luck, have a great weekend, and always trade only what you see.