Day trading course summer trading S&P500 emini futures buyers are exhausting.
The Weekly chart of the S&P500 emini futures shows weakness after 5 continuous weekly candlesticks. Buyers have been in control for five continuous weeks. As we approach resistance at 1405 Sellers have brought the price back under 1400 to the support at 1395. If we close below 1389 then next week I would look for a sell off to the supporting trend line around 1355.
If price stays above 1389 into the close on Friday, then I would look for another 1-2 weeks of consolidation unless buyers commit to moving above 1420. If this is the case I would be looking next week for an extreme high of 1462 and a consolidated range from 1453-62. The Point of Control on the Weekly chart is 1389.
Our Day trading course emphasizes the tendencies in seasonality and one that might be overlooked by US traders is that most financial institutions and government in Europe are on summer break. They aren’t expected back to trade and clean up their mess in Greece, Italy and Spain until September. This is of course when Greek payments are due and we might see another round of haircuts on bonds just issued.
The low volume we are experiencing here is also indicative of summer trading in the US session. Many investors now are moving out of bonds as they are tired of the low returns so we have seen a sell off of bonds into this week and a push up in equities across the board. Watch yourself tomorrow on volume drop offs.
Trade what you see and never listen to the so called experts. If you can’t see the direction of the market and don’t understand how to use a stop, then don’t trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late.
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.
Day 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 is one of the largest professionally day traded markets in the world. Our 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 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 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 day trading.