Day Trading Course, Positive Eurozone auctions boost Euro while FED extends near 0 interest rates to push Gold.

This week better than expected US equity earnings were offset by poor economic data.  Weak GDP in both the US and the UK, showed that final demand from the consumer is still relatively weak.  Supported by the ECB’s supply of low cost funds to European banks, positive auction data in peripheral Europe helped European bourses remain on the offensive. And the FOMC surprised investors by keeping rates low and extending the date that they will remain close to zero. FOMC and Earnings Drive Riskier Asset Sentiment. The dollar is broadly weaker for most of the week with European markets holding on to a better risk backdrop following another encouraging Italian auction, along with hopes for a Greek debt deal.  However, Portugal and Spain still remain a concern with Portuguese yields on the rise and Spanish retail sales and unemployment disappointing expectations. Discussions between Greece and its private sector creditors over a 100 billion Euros debt write-down edged towards an agreement, with bond holders seemingly willing to accept lower yields on their future holdings of Greek debt.  The two sides were discussing a deal that would see Greece pay an average coupon below 4% on newly issued Greek debt.  A deals would allow the EU to move closer to fiscal unity. On Friday, the US released 4th quarter GDP which increased by 2.8% annualized. Output was driven  by consumption, net external trade and inventories, with consumption boosted by the increase in real incomes as abating prices pressures should marginally boost real incomes.  Expectations were for an increase of 3%, which was slightly disappointing. On the earnings front, the US witness better than expected numbers from a number of large cap companies.  Caterpillar, 3M and Apple all showed much better than expected earnings.  Aplle beat expectations handily, selling more than 37 million iPhones.  Apple also surged with its sales of its iPad, selling 15.43 million units, which was 4 million more than it sold in the previous quarter. Apple sold 5.2 million Mac computers, beating its mark of 4.9 million. The FOMC took center stage mid-week by keeping rates unchanged and extending the time frame of when rates could change to the end of 2014. This initially helped riskier assets rally, which seemed to be relatively short lived.

The Euro Tests Resistance The EUR/USD was able to break through the 20-day moving average as investors moved into riskier assets.  The currency pair tested horizontal trend line resistance near 1.32, twice before profit taking pushed the currency back. Support on the currency major is seen near the 20-day moving average near 1.30, and then again at the 50-day moving average near 1.2850. Gold closes 4th week of gains Increasing liquidity from the FOMC pushed gold prices above resistance near 1680, on its way to 1730.  Momentum in the yellow metal continues to move higher, with the 20-day moving average crossing above the 50-day moving average. Target resistance for gold prices are 1750.  Support is seen near 1650.

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.

Share/Save

S&P 500 day trading course

With an open of 1066.00 today we started with a gap down at 1064.25. The morning gave us most of the action today with a run down to the low of 1057.00, then back up to the daily high of 1069.50 all by about 11am market time. Afternoon trading gave us a bit of the chop, with 2, 3, and 4 point bars showing volatility while staying within the days 12.5 point range. The close today came in at 1062.25, down 2 points from yesterdays close.
For Wednesday on the upside we are looking at at possible touch to the 1068.50, with a break through that we could see the 1075 area of resistance with an extreme high around the 1088 level. To the down side if we move through the support at 1057.00 we could see a move down to 1050.25, then 1047.50, with an extreme low at 1036.25 in the next week.
Keep your head up and your trigger finger ready! See you at the starting line!

Share/Save

Riskier assets continued to grind higher
during a week in which US earnings and economic data, along with solid European
auctions created a calm market environment. The US earnings season for
stocks recently began and of the 10 percent of companies that have reported,
more than 70% have exceeded expectations. Implied volatility also declined,
pushing the VIX volatility index below support.

The euro has improved over the past week as bond auction results have
been better than expected and economic data and news developments have been
subdued. However, despite the recent short-covering rally seen over
the past few weeks, the political uncertainty and periphery debt risk should
eventually weigh on the currency.  Next week, Portugal, Greece, Spain, Italy,
Germany and France will test the debt markets. While the ECB’s LTRO operations
have helped in part to stabilize funding market stress and immediate market
pressures, helping to mitigate sovereign risks, the recent string of EU auctions
are just the beginning of the funding season.  Indeed, the real test for markets
will come in later in the first quarter with Italy and Spain’s bond redemptions
totaling nearly 70 billion Euros.

Next week, the highlight of the US calendar is likely to be the FOMC
meeting on 1/25/2012.  The first meeting of 2012 will bring a shuffling
of the voting rights among the FOMC district president. This week’s FOMC meeting
is likely to bring forward a new communication strategy by the Federal Reserve.
In particular, policy makers are likely to make public member’s projections of
the appropriate policy rate in the years ahead to increase the Fed’s
transparency.

In the US, the economic highlight was the better than expected
jobless claims report.  Initial jobless claims fell by 50,000 to
352,000 in the week ended Jan. 14, according to the Labor Department. The
decline was the largest in a single week since Sept. 24, 2005.  Jobless claims
have now returned to levels seen before the US financial crisis. Economists had
forecast claims would fall by 19,000 to 380,000.

Initial jobless claims fell by 50,000 to 352,000 in the week ended
Jan. 14, according to the Labor Department. The decline was the largest
in a single week since Sept. 24, 2005.  Jobless claims have now returned to
levels seen before the US financial crisis.  Economists had forecast claims
would fall by 19,000 to 380,000.

Euro
short squeezes up

Technically, the Euro was able to rebound off of the recent lows near 1.26
and create a short squeeze up to 1.29.  Last week commitment of traders report,
showed a record short position in Euro futures which is bound to cause
additional short covering.  A break above horizontal trend line resistance near
1.3070 will likely lead to a quick test of the 1.32 range.

S&P likely to test 1325

The S&P 500 broke above resistance
levels near 1306, and is likely to continue to grind higher to test the 1325
resistance point.  Momentum indicators such as the MACD are pointing to higher
levels as the index moved above 1, for the first time in 6 months.
Additionally, the cross of the 50-day moving average of the 200-day moving
average should add upside momentum.

Share/Save

Share/Save

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 trader

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.

Share/Save

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.

Share/Save

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.

Share/Save

S&P 500 trades back to test 1225.00 and is opening at resistace

It looks like the S&P 500 will be opening back up at resistance this am.  Overnight traded back to the 1230.00 area and is now testing in the 1222.00 area going into the open.  Today trading could see movement testing back to the low side with 1222.00, 1215.00, and 1208.00 the area’s to watch for.  A higher low on a 1 – 4hr chart could help give us confirmation on a bottom here (For now).   Should the previous lows from yesterday be broken I would watch things  move into the 1100′s, and most likely test to the 1180′s.

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.

Should the retracement continue on this last couple days move down, we will be watching the 1230.00, 1236.50, and 1240.00 area’s of resistance.

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.

Share/Save

Day trading course – S&P 500 tests key support in after hours trading.

The S&P 500 saw a 25 point run down yesterday as traders spent the last few hours of the day selling the S&P all the way down to the 1230.00 area by the closing bell.  Overnight saw prices move and retrace to the 1241.00 area before continuing to touch into the key 1222.00 area of support.  Looking at the daily chart we can see that this area is key area of support to the market right now.

Day Trading Course focuses on key support and resistnace levels and teaches how to see the direction in the market to make profits

After breaking the 1240.00 area yesterday, we have the  1220-22 area where we have tested at least 5 times now in the last month of trading.  Should today’s trading break the support in at 1220.00 then we will target 1208.75, 1200.00, 1196.50 and 1180.00 as the next area’s to watch for.  Should the 1220 support hold, some retracement targets will be 1236.00, 1240.00, 1248.25, with 1252.25 as a high.

Day Trading Course teaches exact entries and exits to make the most profits with the least risk.  Come and join us for our next training!

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.

Share/Save

Day Trading Course focuses on key support and resistnace levels and teaches how to see the direction in the market to make profits

Going into the open we have seen a sell off overnight.  Watching the 1235-40.00 level of support today as markets continue to trade like yo-yo’s.  A break of the 1235 level could clear the way for price to move to test into the 1222.00 area, with 1213.50 and 1210.00 from there.  Should trading not break through the 1235.00 area it seems more consolidation between the 1230 & 1265 area is in store.

Day Trading Course teaches exact entries and exits to make the most profits with the least risk.  Come and join us for our next training!

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.

Share/Save