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The S&P500 emini futures day trading course levels of support and resistance on a daily chart and price action.

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after an epic retrace of points this last week, the ES finished in a Doji on the daily chart. Our point of control is 1332 with the buyers in control of direction. Having a Doji on Friday doesn’t give much to this next weeks direction as traders are indecisive to commit to higher highs. Are major support at 1296 held giving us a higher low and the tendency to return to previous highs could give us a break through on these levels to get above the 1360 ceiling. Last time this happened was when the US forces caught Bin Laden. Quarterly reports are out and the market has looked favorably this past week.

We have support at 1311, and 1290 with 200 MA coming in around the 1274 mark. Watch as price moves to the 1252-56 area, if we can consolidate at the top and there is some good news in the market we might get a push through on the resistance with a test to the previous highs.

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