S&P 500 Day Trading Course Gap for Nov 11, 2009 Support and Resistance
Trading opened on Tuesday at 1087.25. Prices saw a high of 1094.75 today with a low of 1085.00, giving us a 9.75 point overall range for the day. Prices closed the day at 1091.25, while the gap from Monday at 1091.00 was filled. Expecting a slow day for the 11th as it is Veteran’s Day.
Watching for a retest of the October high of 1099.50. Prices are moving up with decreasing volume again, as well as moving into the overbought position. Without an increase in buyers to keep the commitment prices will not sustain this move up and we will see another sell off. However, so far price is still trading within the up-channel we are in from early this year.
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