Day Trading Course, S&P moves into top side consolidation, learn how to trade stocks and futures.
Looking at the S&P charts we can see that we have moved into the top side area of this move now. Price looks as though it will struggle between the 1250 and 1280 area for as much as a few days before finding the real direction. Is the ralley over? Will things turn and crash back into the low 1100′s? Or will the rally regroup and continue into the Christmas season? Hard to say. Everybody out there has there opinion and fine reasons to support it.
Day trading course looks at price and direction, the support and resistance to the direction of the market.
I am looking at intraday today and see on a 1hr chart that this is turning into pennant trading formation. We are trading a tightening range and waiting for the break out. Area of consolidation today is between 1240 and 1257. With a break through resistance we can look for the longer term upside targets of 1260.00, 1267.50, 1273.50, and 1282.00. Low side movement could look for the 1232.50, 1227.50, and 1215.00 as targets.
The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.