[/caption] Consolidation day. As mentioned in yesterday's daily chart. Watching for price to bounce back and forth in the Congestion Zone from 1320-1326. Watch for short term head fakes, break out trades could be difficult. 50Ma is coming in adding support........... Day traders are watching this area and seeing no distribution. Support coming in t 1315 then 1308 and again at 1302. Point of Control is 133.25 Looking for a few more tests on the 50 with a break to the supporting trend line then a move up to new highs. Ireland is reporting on their banking situation before noon. Could impact the markets. More than likely it will be blown over and not noticed. Trade what you see. Remember to watch the bullish channel supports and don't get caught in head fakes. Day trading course in Calgary, Edmonton and Toronto coming up. S&P 500 day trading course
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