SP500 Weekly Chart Learn how to trade

S&P500 day trading course, learn how to trade - Weekly Chart S&P500 futures.

The S&P500 emini futures weekly chart. Broke through and maintained direction after 1400 Creating new floor in the extension of this move at 1436. It would not be unusual to see price test to here and consolidate, but as the market is in the last two trading weeks of September, I am instead, watching for a test of the move to 1460, with consolidation on the top side and a further extension to first resistance at 1478. If price moves through resistance at 1478 the long term picture to continue the move to 1530, then to our extreme high of 1615.75 This is on a weekly chart, using this macro picture to the upside extension of this bullish move can take time with break outs and head fakes, don't trade cash unless you are willing to take responsibility for you money. If Volume on the S&P00 emini futures increases this week to over 7 million, I will be looking for the follow through on the move. If we hit resistance and do not take out the swing high from last week, then the S&P500 emini could re test the support at 1442, then 1421. An extreme low of 1400 would keep us in this bull market. We still have quite a lot of room to keep us in this bull market. Remember, a bull market doesn't necessarily reflect the consumer side economy as it "trims the Fat" in the employment sector. This is the same patterns we can see in Japan's economy as corporations became more effective and moved jobs offshore. Watching for Unemployment to spike up ag [...]

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Quantitative Easing the bull or the horn?

Quantitative Easing the Bull or the horn the market is running on high hopes? The S&P500 emini futures has been in a bullish trend reaching new highs.  

The FOMC meeting on Thursday, seems like a lot of hope is betting on the next round of Quantitative Easing.  Although the S&P500 emini futures contract has been trading on abysmal volume, it has levitated to new highs.  Monday, we barely made it through 1 million contracts. The Support for this move is again at the previous swing high.  We are looking for this break of the resistance at 1440 with a projected move to 1465, then to 1487.  Normally we will see a volume increase in the second week of September but with all the pressure we have in Europe there has only been a few days close to 2 million.  The problem for most investors trading this market versus the institutional trader is that these periods of low volume can produce volatile break outs which turn into head fakes as investors are buying into a move as it retraces. If the market stalls at 1452-57 after the Thursday FOMC announcement, then I will watch for a sell off to break through support at 1420, then 1398 with an extreme low of 1340.  This is contrary to what is being said in the market place by the pundits for the next round of easing, If the Fed backs off then we might see this scenario. Keep your powder dry, take executable trades that follow your risk management strategies.  Don't make a bet on the direction, only trade your set ups.  This could be a very volat [...]

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