S&P500 day trading course
Day Trading Course, S&P 500 Daily Price Action
Price traded up a couple points into the 1325 area in the overnight session after Friday traded to a low of 1318.75. Volume for Friday came in around the 1.88M mark, and trading closed the week at 1323.75. Watch for the low volume trading, this is where many people get hurt, looking for the move that doesn’t come. With no or low volume I will be looking for this to stay in the channel between 1323.75 and 1336.00. Today’s trading could see a test down to test the 1323.50 support with 1320.75 and 1315.25 as the next levels of support. With a downside break through 1320.00 area, price could continue to test into the 1305.00 area of support.
With light volume we could see this move back to the previous high in the 1336 area of resistance, we have been stuck in this area now for about 2 weeks.
S&P 500 PreMarket Price Action
Trading took us back up to touch the 1165 area of resistance yesterday and then down to the 1152 area to test support in the overnight session. We are meeting a lot of resistance in the 1165 area as we have touched into the area about 4 times over the last few trading days but the lack of volume in the moves is keeping price from breaking through into higher territory. Today’s price action looks to be headed off support to revisit the 1160,163.75, and 1165 areas as long as price continues to creep back to the upside. Should things change their tune, some low side target areas to watch would include the 1158, 1154, and 1150.00 areas of support.
S&P500 day trading course daily chart live trading room
S&P500 day trading course We have a reversal bar on the daily from a 61% retracement on the previous swing low to high.
S&P500 day trading course Feb 1 daily
Watch for a reversal bar on completion or an unsupported price on the mid range for the day.
Doesn’t seem to have much as we go in to the afternoon session.
If this closes as a Doji, watch out tomorrow. Could see some volume and a strong sell.
This Ascending wedge pattern has produced a few nice retracements and new entries in the direction of the market, Entering first counter trend trade of the day as market is showing weakness.
S&P500 day trading course trading the wedge
Most scalpers in this low volume lunch hour will be switching to the 3min 5 min and using the 1 min for entries.
increased weakness on the S&P500 and a roll over here could take us through the previous lows.
Support at 81.25 on S&P500 emini, This is the the Point of control. We get under here and we can retest the bottom, and maybe fill the open gap at 69.
