S&P 500 Daily Trading Course – NY Close
S&P 500 Daily Trading Course - 5 Minute Chart
After some bad news on consumer retail sales at 8:30 AM market time, the market went down sharply, as you can see on the accompanying chart.
After that, with some better consumer sentiment news at 9:55 AM, the Bulls were in charge of the market for the rest of the day, as the S&P 500 just barely went below the price level at the official opening bell for a very brief time and finished up about 15 Points for the day.
This information today, and from now on, is on the new September emini futures contract (ES 09-10), as the old June contract (ES 06-10) is soon to expire.
The market opened today at 1072.50 and closed at 1087.00.
The range was from a high of 1088.25 to a low of 1071.75.
The open gaps from yesterday’s close on both contracts were filled today, but we still have an open and unfilled gap from Wednesday’s close at 1056.25 to the downside.
And there are still three recent open gaps at 1156.25, 1112.75, and 1102.50 to the upside, as well as some old gaps to the downside from July, 2009 that were never filled, at 972.25 and 902.00.
Good luck, have a great weekend, and always trade only what you see.
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Hello Bob,
looks like we have a bullish channel with higher lows and a possibility to extend into next week. At your close add 1/2 of the daily range for a price projection and see if it is in line with and resistance on a daily chart. Use 1440 min chart on your ninja.
Looks great, thanks for your detail.