Friday’s volume had dissipated again from Thursday taking price from the touch on the 1350 area, down to the 1332.00 support and closed at 1337.00 for the week. With Friday trading back somewhat from Thursday’s 1325.25 extreme low, we are beginning to wonder if the bottom of this move has been reached? Perhaps it has, but I won’t be surprised to see another attempt at the bottom, Friday’s failed attempt at getting price back on track has given sellers a chance at putting price back down before this market can run. 1332.75, 1327.75, 1325 are the area’s to watch for on the downside, While a resurgence of buyers could see price move to touch 1338.75, 1344.75, with 1351.00 and 1355.00 as extreme highs.
Day Trading Course, S&P 500 Daily Price Action
May 9, 2011 / Day trading course / Tags: Calgary day trading course, currency, day trading, day trading montreal, day trading tips, derivatives market, economy, eurusd, financial assets, investing, japan, learn how to day trade, S&P 500 emini futures day trading coach, stock market, Support and resistance, technical trading