S&P500 day trading Course price action it looks like there are tails on a weekly chart hitting support on the 1037.50 range with price failure into the support on the inverted Head and Shoulders.  The Point of Control 1056.25

S&P500 day trading course price action

Open Gap 1049.50

Support at 1056.25 , 1047.50, and extreme low of 1036.75 which is also the support of the inverted Head and Shoulders on the daily and weekly.

We have resistance at 1062.75 then previous swing high at 1072.75.

News is coming out at 10:00, watch your self.

S&P500 day trading course NY open

There is still and open gap at 1156.25, even though the Hindenburg Omen has fired off.

S&P500 day trading course ny open

Basket orders took us down this AM off the open into support at 1069.75 which is the point of control for today.  Bulls are going to have to keep price above this area.

It looks like we have had a bit of price failure or testing to the down side.

Further support at 1062.50 and 1050.

If we bounce up from here we are looking  at resistance at 1075, 1080.50, and then 1090.25 .

S&P500 day trading course, you might have picked up on the news that there is the oncoming confirmation of a Hindenburg Omen.

hindenburg omen poster

A Hindenburg Omen is an indicator that is a technical analysis pattern that supposedly shows up prior (just) to a stock market crash based on the NYSE.  New York Stock Exchange.    It is based on a large number of stocks hitting annual highs as a large number of stocks hit annual lows.  The Hindenburg omen basically shows new lows and downside risk.

Here is the scoop:  The probability of a downside move over 5% is 77%.  Pretty nice odds.

Zero hedge has a break down and some information