Day trading course - descending wedge

[caption id="attachment_4065" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Buyers are testing the resistance at the top of the the descending wedge. If resistance does not break expect a test to the support at the bottom, it could follow the long term bearish trend that has turned into a ranging channel between support at 1325 and resistance at 1340. If there is a breakout at the top of the wedge expect to go to the next target area at 1331.50 . Next would be the top of the long term channel and 1339.75. If support gives way you could see ptice go all the way down to outer target at 1309.75 Trade What You See

day trading course

Day trading course

[caption id="attachment_4056" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Over the weekend a big bear move created a gap and proceeded to touch and test the support at the bottom of the channel with price failure to 1328. Followed with some indecision and another series of tests to the bottom of the channel. Looks like buyers are trying to close the gap and test upward to first resistance at 1334 and could move to next target at 1342. If resistance gives way, look for price to test the top of the channel and possibly go up to test the outer target at 1360. If sellers come in and break through support at the bottom of the channel, first target is at 1325, next target is at 1322 and outer target is 1316.75 Trade What You See  

day trading course

Day trading course

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Day trading course l 866-640-3737 l Day trading education

The Bulls have been in control and driven prices up. At this time prices consolidating and testing resistance at around the top of the channel.If trend continues, look for price to move up towards next target at 1359.25. If the trend reverses and the sellers take over, look for the next support at 1334.75,

next support test area at 1326.00 and if that gives way 1321.25 will come next. 1315.50 after that.

Trade What You See

day trading course

Day trading course - consolidation

[caption id="attachment_4035" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption]        

day trading course

Day trading course - testing resistance

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

The buyers have moved prices up from the low of 1291.50 to touch and test resistance at 1309.50. If they succeed to move prices past resistance, the next target is at 1314.50 and could reach outer target at 1320. If the resistance holds price will move down to test lower support line of the recent bullish channel and possibly go to test next target at 1302. Next level of support would be at bottom of long term bearish channel and could move onto test target at 1282. We'll see what happens with budget negotiations.

Trade What You See

day trading course

Day trading course - Consolidation

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Ranging between resistance at 1309.50 and support at 1305.25. Consolidation through a bearish trend, if buyers come in and resistance is broken through, next test level in the 1315 area . Possibility of price breaking through top of longer range and going up to test the outer target at 1331.25.

If sellers continue the trend and price sinks past support of 1304.25, the next target is at 1300.50 , and then onto support at bottom of the channel. 1293.25 is the outlying target if buyers continue to dominate.

Trade What You See

day trading course

Day trading course

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Break through resistance of the long term channel. Resistance is now acting as support, it looks as if it might go up to test resistance at 1319.25. If price breaks through, the next resistance level will be at 1323.25, possibly then to go up to test the target at 1348.00.

There is strong support with top of channel and support level at 1313.25. If price does break down through this level, next support will be at 1307.50 and might try to go down and test the next target at 1295.25

Trade What You See

day trading course

Day trading education SP500 price action

The S&P500 day trading course looks at the price action today on this re-tracement of previous buyer commitment. This Chart shows some of the levels we posted last week. [caption id="attachment_3999" align="alignleft" width="300" caption="Day Trading Course|866.640.3737|learn how to day trade"][/caption] Our point of Control is 1334 With the sellers still in control from Friday's NY. close. Our support is at the 50MA on the daily chart at 1309.75 with the first area of support at 1326.25 getting blown through on the sell off. Watch as we approach the close as sellers could make an attempt to close at the lows or move towards the 1300 psychological support. If price closes below 1309.25 we could watch this test to 1300 in the after hours. There is a flight to safety as the aforementioned problems in Italy, could take the economic eye off the ball here and shift focus to the failing euro policy. Extreme low projection to 1272.75 Watch for the break of 1300. This is the key support. As mentioned early last week, we are ready to re test these major supports. Best to be agile and trade these with stops. This is a very volatile area, watch yourself.

day trading course

Day trading course

[caption id="attachment_3995" align="alignleft" width="307" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Price just touch and tested support at 1332.50 On Friday after the strong bearish move at markets close buyers moved in to push prices up to the resistance at 1342.50, only to have the bears move price back to its present range between support at 1332.50 and resistance at 1335.75. If price breaks through, next level of support is at the bottom of the channel . Then onto target at 1329.25,from there itcould go as far as next target of support at 1325. If present trend reverses buyers could bring price back up to resistance at 1336.50 , next target is at 1338.00 If that resistance is broken through next target would be 1342.50, then next target is at 1349.75 , if price breaks through that level it could go up to as high as top of the channel and then onto testing the target at 1358.75 Trade What You See  

day trading course

Day trading course - price action

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Price broke through support at 1341.75 made it's way down to 1337.75 touch and tested support at this level. If support holds next target on the way up is at 1343.50 at the top of the long term trend. If it breaks through could reach target at 1351.25. If the sellers keep going target is at next support at 1334.25, then if support gives way at this level target is the bottom support level of long term trend, If there is a break through support next target is at 1326.50 . It could go as low as 1313.25 .  Trade What You See.

day trading course

SP500 day trading course consolidation

The S&P500 day trading course looking at a very consolidated trading range with no volume.

We are continually bouncing in this small range and looking for some commitment to take us out of the range. [caption id="attachment_3979" align="alignleft" width="280" caption="Day Trading Course|866.640.3737|learn how to day trade"][/caption]

The daily chart is showing more and more consolidation between 1324-1340.

The point of control in this range is 1334 with buyers and sellers taking each other out in the regular trading sessions. It seems that they are looking to wait each other out as we are in the full swing of the summer session. We have had a move up from the spring sell off and buyers have consolidated here to catch their breath. There is a possibility of a test to the 50MA at 1310 before a continuation with the major trend as the bearish trend resistance in the channel was broken. If a sell off were to occur, which seasonally is very possible before the next rally before the August summer holiday, we could see 1280 as the major swing low before the continuation up. The key is the 1302 area and how it holds. Support at the 1300 level has held on many attempts previously. Watch for the test down from here. A break above 1345 would be a strong signal that the buyers are back in control. Watch for 2-3 day closing above this level with no price failure for a continuation. Summer is coming on quickly and there is hesitancy on the part of traders to commit in this market. Remember most industry players will b [...]

day trading course

Day Trading Course|866.640.3737|learn how to day trade

S&P500 day trading course learn how to day trade the emini contract. Price broke through the resistant trend line. [caption id="attachment_3971" align="alignleft" width="280" caption="Day Trading Course|866.640.3737|learn how to day trade"][/caption] If price closes above 1330 we could see a test up to next resistance 1340.50 then 1358.75. We are still under the resistance from the Bin laden break out. Point of control is 1317.25 for this move up and will be around 1326 dependent on the after hours trading for Sunday and Monday evening.

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