S&P500 day trading course
S&P 500 Day Trading Course Gap for Jan 29, 2010 S&P500 day trading course daily chart live trading room

S&P 500 Day Trading Course Gap for Feb 1, 2010 Support and Resistance

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Jan 302010

Trading began Friday morning at 1085.50, up 4.75 points from Thursday’s close of 1080.75. From open prices moved up to a high of 1093.25 where they were met with resistance by about 10:30 am market time. Prices reversed from there and traded down 25.75 points through the remainder of the morning and afternoon to hit a low of 1067.50 before closing the week on the 1069.00 support.
Next weeks trading looks like further moves down can be expected. I am looking for moves to the 1062 and 1059.25 levels. Prices may retrace to the 1080 0r 1085 levels, but a continuation down from here looks likely. Volume will be our main indicator as volume is up on the sellers side and will need to maintain strength to push these prices further down. A daily volume of about 3.5 million contracts would be a great start to this continuation down.
You know where to find me, I’ll see you at the starting line;)aa18 S&P 500 Day Trading Course Gap for Feb 1, 2010 Support and Resistance

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Posted by Edge at 1:53 pm Tagged with: