S&P 500 Daily Trading Course – NY Close
S&P 500 Daily Trading Course - 5 Minute Chart
There was a fair amount of movement both up and down today, and the volume was a little higher than it has been lately. The Bulls were able to manage a small 3 Point gain for the official trading day, but that is misleading since the market went down sharply right after the close, and dropped over 6 Points in about five minutes. Perhaps a harbinger of things to come tomorrow.
The market opened today at 1090.25 (which was the exact same price as yesterday’s close) and closed at 1093.50. But as mentioned, it was down under 1087.00 or so soon thereafter.
The trading range for the day was from a low of 1083.75 to a high of 1098.50. This high created a double top with yesterday’s high, so it seems that those Bulls are having trouble getting up to and over that psychological 1100 mark.
There is still an open and unfilled gap to the downside from over six weeks ago now at 1023.00, and also one from four weeks ago at 1064.75. There is also a more recent unfilled gap to the downside (from Monday) at 1077.25, and a recent unfilled gap from last week to the upside at 1118.00. Also, there is a quite old unfilled gap to the upside from over three months ago now, at 1156.25.
Good luck, and always trade only what you see.
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