S&P 500 Daily Trading Course – NY Close
S&P 500 Daily Trading Course - 5 Minute Chart
The Bears were definitely in control of the market today, which started with a huge drop at 8:30 AM, before the market officially opened. Due to what was perceived as bad news on unemployment figures and jobs creation, the market fell about 13 points in one single minute, and fell about 18 points in 7 minutes, starting at 8:31 AM. Wow!!!
The market recovered a little after that, but was then consistently and steadily down for the rest of the day.
The market officially opened at 1081.50 and closed at 1062.50.
The range was from a high of 1088.00 to a low of 1059.25.
The most recent open gap at 1066.50 was filled today and now there are three recent open gaps at 1156.25, 1112.75, and the open gap from yesterday’s close at 1102.50, now all to the upside.
The Bulls must be reeling a little after today, so it will be interesting to see what next week brings.
Good luck, have a great weekend, and always trade only what you see.
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