Futures market moves on lower volume
Futures Market moves up on lower volume, this is a critical point for the S&P500 emini futures market as buyers are looking for the commitment to push to new highs.
Futures market is seeing a weak commitment on the move up in the S&P500 emini futures. Watching a point of control on this move up at 1357.25. This is a previous level of resistance and where we have the left hand mid term shoulder in a Head and shoulders pattern on the 1440 min chart. If the market can close above this level with a retrace to 1351 tomorrow then I would be looking for a test to previous swing highs to 1374.25. Watch for price failure at these levels. Could see a large swing from this point.
If price consolidates over the next two days of earning between 1350 to 1365 with decreasing volume, we might not see the short squeeze that kicked off the third leg of this move up in a bullish flag. If it does move up, there is resistance at 1378-82 1400 and then 1420. On the support side we are watching 1325 which is the 50MA then a break through to 1320 and then 1300 which is where we can see support at the 200MA. Price normally has been breaking through the 200MA has been half of the Max daily range for support at 1285-89.
Future Market – Let’s take a look at the day trading in July 2011 on the S&P500 emini futures.
Futures market in 2011 shows on this third approach on the 1320 resistance. Our previous swing that made it above 1320 on the S&P500 emini futures contract created a small head fake. The previous swing gives the left hand shoulder, a head then the right hand shoulder consolidates for four days after a 22 point buyers day. With the break of the short term supporting trend line the market sells off 180 points over the next two weeks.
There are repeating patterns in the market, and seasonality, earnings and the systems trading by Quants contribute to this. Trade what you see, and never rely on others work as a validation of your investment strategy. Do your own work.
Day trading course focusing on the S&P500 emini futures support and resistance and efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.
Futures Market trading course looks at price and direction, the support and resistance and the direction of the market.
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The S&P500 emini futures market is one of the largest professionally day traded markets in the world. Our Futures Market 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 Futures market.
Disclaimer: day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that futures market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a futures market Day trading course, be sure you understand the risks involved in futures market trading.