stock market
Day Trading Course: Price moves strongly off of trend line
Day Trading Course, S&P 500 price is moving strongly off of support day traders are buying.
Day trading course focusing on the S&P500 emini futures support and resistance.
Initial jobless claims were announced today at 8:30 for the week of 12/03/2011. They fell 23,000 from the previous week, the lowest since February. The report was considered welcome, with the caveat that we need to see it supported in later weeks to believe it is good news! (Dare I comment on that?!) Then, during the hour before the opening bell, price ranged 22.50 points with bears taking control. The sellers had control for most of Thursday’s trading. Price moved steadily down in waves, ranging 25.50 points from the open at 1253.25 to close at 1230.25
Day trading course looks at price and direction, the support and resistance and the direction of the market.
If we look at a weekly chart we can see that price has touched the upper trend line and moved away from it. If we look at a daily chart we see price kissed that trend line three times before moving down. Is price far enough away to not be tempted to
kiss again or will it return or even go for more? Watch price action and see.
If sellers continue with control as we close the week, look for the next support around 1226.75. If price moves below that price, it could drop to possible support around 1214,
1210, and 1205. If buyers take control, expect resistance around 1256.50, 1266.75, then 1274.
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 course 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.
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.
