Day Trading Course: It is a new year!
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.
The first week of this new year has important economic news announcementsscheduled daily. Monday all markets are closed. Tuesday announcements: the ISM Manufacturers Index, Construction Spending, and FOMC Minutes. Wednesday: Motor Vehicle Sales and
Factory Orders. Thursday: ADP employment report, jobless claims, ISM Non-Manufacturing Index, and the EIA petroleum Status Report. Friday: the Employment
Situation. Pay attention to major announcement times and only trade what you
see.
The 1440 minute chart shows higher lows and lower highs since September’s low around
1062.25. It shows a possible pennant formation, which may or may not break out this coming week. There are three different supporting trend lines, forming tighter and tighter. If the pennant continues to build, look for price to remain in a tight trading range unless buyers or sellers take control.
If buyers gain control, look for resistance around 1264.25 then 1276 and 1284. If sellers
take control, 1250, 1233.50, and 1223 may provide support.
Trade what you see and enjoy yourself this year.
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, Week in review
Day Trading Course, How do you ride a rollorcoaster?
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 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.
