S&P 500 Day Trading Course Gap for Feb 8, 2010 Support and Resistance
Trading opened Friday at 1060.75, up 3 ticks form Thursday’s 1160.00 close. From open prices traded quickly to touch the high of the day at 1064.00, then turned and marched down 23.25 points through the morning and early part of the afternoon. Prices traded to a low of 1040.75, where they were met with support and forced to change direction. S&P then reversed and traded back up, all the way to the high once again forming a double top at 1064.00 just minutes before close, then ending trading for the week at 1062.25.
In the longer term, for Monday we could be looking at another touch back up to the 1071 area if price gets the commitment to move through the 1064.00 resistance. After 1071 targets to consider would be 1077.00, 1082.00 and 1092.50. If the sellers decide to take control back we could be looking at 1050.25 and 1041.75 as targets with 1020 being the extreme low. 
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