S&P500 day trading course High volume into the weekend doesn’t show any type of capitulation, looking at the industry vs. retail and support and resistance. We will be in Seattle for a three day course, join us.
S&P500 daily chart with the break of the top and the first part of a 50% retracement from the previous swing low.
S&P500 day trading course Jan 26 daily Chart
1084 is the first area of support on the basic fib re tracement. Most of the market is watching this level for a further move down in the AH and for a commitment on direction from the next area of consolidation.
Obama’s Middle class speech on his performance shall be amusing.
Will it effect the markets?
Will it be realistic to the 18% + unemployment in California?
We shall see.
Nextarea of support after 1070 is 1051-3 area, looking for a test in to this for direction, if it is committed then looking for 1021, then 1008.
We shall see.
S&P500 day trading course looking at support and resistance in the S&P500 live day trading room.
Looking at support here in a consolidated range.
A lot of the major moves are being made in after hours trading with London open and Japan closing.
I have also commented on the unhoooking of the EURUSD and the S&P500 and looking for the sling shot effect to move to the next trading range.
This means we could be in a consolidated range between support at 1106.50 and the extreeme high of 1128.50 until we get some added volitility in currency.
