Day trading course
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 – Indecision as Pennant tip forms
Day Trading Course, S&P 500 Going into consolidation and forming a pennant.
Day trading course focusing on the S&P500 emini futures support and resistance.
Two days into
trading this week and the market makers seem to be biding their time. After the
retail Black Friday low of 1146, price moved steadily up as buyers took control,
always testing higher, although not always closing higher. That is, until
today, when the market closed at 1254.75, slightly lower than yesterday’s close
of 1255.25.
Looking at a 1440 min. chart, there is a pennant build-up and the bulls and bears are near a decision point, hopefully. Buyers are not showing much commitment. The market
is also trading around the 200 SMA, yet again, which can have a lot of “pull.”
Look for more possible resistance in a 10-point range where price currently is. If the buyers take more control, look for further resistance around 1266.50, 1275, and 1291.
Beyond that, there is the psychological resistance and predictions of 1300, and
the July 7 & 8, 2011 highs around 1345!
If sellers get momentum and power, look for resistance after 1248 at or around 1234, 1224, and 1213. Beyond that? Remember the low of 1146 just this Thanksgiving Black
Friday. And further back, in early August of this year, and again at the beginning of October, price fell to around 1067! What would it take to go there again? Read the
blog entry of Joel Wissing on December 4, 2011 at moneymakeredge.com for
insights into the world scene and how it is affecting the market.
And always, always, 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 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 – Trading through the holidays
Day Trading Course, S&P 500
Day trading course focusing on the S&P500 emini futures support and resistance.
Day trading course looks at price and direction, the support and resistance and the direction of the market.
Day trading course will be in your area soon, join us for Day trading education.
Two days into December’s trading, with a stomach full of turkey. What do
we see? Today’s point of control (POC) is the 200 MA. The point of control is
also around 1252.75. 
We broke above and are testing above the 200 SMA. If we
close above, look for resistance around 1263 and 1274.50. An extreme high would be a double top around 1291. If we close below, then look for support around a long term support of 1247.25, then 1233.75, 1224.50, and further on would be
1211. An area of consolidation is 1248 – 1256 so look for consolidation there.
Will sellers or buyers seize the market? Watch other markets and indicators like
the US$ index to get a bigger picture of what might happen, and be patient and
disciplined while you 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 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.
