S&P500 day trading course
Day Trading Course, How do you ride a rollorcoaster?
Anyone trading in the market these days will have noticed one thing if nothing else. The markets this last little have been pretty much like that of a roller coaster amusement ride. For some people (Day Traders in particular) a lot of fun with large intra-day swings that can turn HUGE profits in short periods should you be on the right side, while others are scared to death (the average investor) fearing that any day now with these crazy moves they will watch yet another chunk of their portfolio disappear into the abyss. The question is… “Which are you?” Are you getting the results that you want? or are you running scared as every time it seems as though it could pick up and move in your favour, you seem to get get an unexpected turn against you? If you are the second there is good news. You can do something about it, and that is what I encourage you to do. Instead of watching from the sidelines or even worse watching your money disappear into the previously mentioned abyss.
That being said, let’s take a look at a chart of the S&P 500 to get an idea of what “could” happen over the next few days and possibly weeks. Looking ar the daily chart we can see that since hitting the 1370 high in the last couple days of July, and the beginning of August when we hit the first low in the 1080.00 area we have been riding the previously roller coaster. These ranges have traded sideways into a tightening range for 5 months now, forming a painfully large and long running pennant formation. As we continue to see lower highs followed by higher lows our range continues to tighten as we wait for the unavoidable choice in direction to follow.
Day Trading Course
What direction you ask? That is for an upcoming post, right now we will focus on getting you through the next few days and possibly weeks. On the chart we can see that as of today’s close we are touching into a very important area of support. That area is pretty much the point of control for this range we have been trading the last few months, the 1200-1210 area. Should the support hold here, we will watch for the move back to 1220, and then 1250. Should this 1200 area not provide the support needed to hold this market up, the next stop will be the 1185.00 area. This will test again to find out if this 5 month trend will continue to hold or break out into direction. Should support hold, this pennant could continue to trade into the new year as things continue to drag on. This could take anywhere from the next couple days until the end of next week to play out, then based on the move we get there we can then look at targeting the next. Until then, Trade what you see. I’ll see you at the starting line!
Day trading course will be in your area soon, join us for Day trading education.
Day trading course will be in your area soon, join us for Day trading education.
The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.
Disclaimer: day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.
Day Trading Course – Indecision as Pennant tip forms
Day Trading Course, S&P 500 Going into consolidation and forming a pennant.
Day trading course focusing on the S&P500 emini futures support and resistance.
Two days into
trading this week and the market makers seem to be biding their time. After the
retail Black Friday low of 1146, price moved steadily up as buyers took control,
always testing higher, although not always closing higher. That is, until
today, when the market closed at 1254.75, slightly lower than yesterday’s close
of 1255.25.
Looking at a 1440 min. chart, there is a pennant build-up and the bulls and bears are near a decision point, hopefully. Buyers are not showing much commitment. The market
is also trading around the 200 SMA, yet again, which can have a lot of “pull.”
Look for more possible resistance in a 10-point range where price currently is. If the buyers take more control, look for further resistance around 1266.50, 1275, and 1291.
Beyond that, there is the psychological resistance and predictions of 1300, and
the July 7 & 8, 2011 highs around 1345!
If sellers get momentum and power, look for resistance after 1248 at or around 1234, 1224, and 1213. Beyond that? Remember the low of 1146 just this Thanksgiving Black
Friday. And further back, in early August of this year, and again at the beginning of October, price fell to around 1067! What would it take to go there again? Read the
blog entry of Joel Wissing on December 4, 2011 at moneymakeredge.com for
insights into the world scene and how it is affecting the market.
And always, always, trade what you see! Marie May
Day trading course will be in your area soon, join us for Day trading education.
The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.
Disclaimer: day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.
Day Trading Course, After hours trading retraces into open
The S&P 500 has traded some 30 points to the upside through the overnight session. Trading from the 1152 area all the way to test the 1185.
Looking at the daily chart with Fibonacci retracement lines on it we can see that this previous move has now retraced almost perfectly to 61.8% of the previous 210 point move up we witnessed through most of October. Retracement targets for this current move include 1170.00, 1189.00, 1200.00 and 1210.00.
Day Trading Course teaches methods for targeting, riskmanagement and finding precise low-risk entries.
Should this move change back to another move down, targets will include 1170.00, 1160.00, 1152.00 and 1146.00.
The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.
Disclaimer: day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a day trading course, be sure you understand the risks involved in trading.
