daily chart

Day Trading S&P 500 Chart

Hi Traders,we are moving to the double top of 2000 & 2008. Is why on this post, I will use S&P 500 Index, to show you what’s going on and talk about Market Movement.

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First Part: Will be about Market Movement with S&P500

Second Part: Is about Targets on ES 1440 charts for next week.

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First Part

Day Trading Monthly Movement of Market

Day trading Monthly Chart

Dark Green Trends Lines: This is to show you how confident Buyers was few month ago.

Lime Green Trends Lines : As you can see…after 1300 points, Sellers and Buyers are more careful. and we have more consolidation zone, and almost every time, we have important unsupported price.

RED Trend Line: Buyers may pass this trend line, but if they don’t close above, expect sellers get in and with a lot’s of commitment.

Dark Line: 1st one, is  a double top, that buyers need to pass, to make a Higher High level. If they achieve this, Next long term target will be ~1530.

Day Trading Weekly Movement of Market

Day Trading Weekly

On this chart, we can see Buyers getting in the market before we go to 50MA and touch are trend line. I don’t know if they was to exited about “fixing” Fiscal Cliff for 2 months or they party to much on New Year.  However…Buyers are better close above my “Red Line” if not, on weekly chart, we may go back to MA50 and MA 200.

Day Trading Daily Movement of Market

Day trading Daily Chart

On Daily chart, we can see that before buyers let sellers get in, and respect 50% Fibonacci retracement. This time, buyers get in the market way to fast. With not much volume (you will see on my next ES 1440 charts). They didn’t close above the double top, not even touch it, miss it by 2points.
We close on “Doji” candlestick. Buyers better get in market and show some STRONG commitment if not…they will regret  this last “RUSH“.

Conclusion for Market Movement on S&P 500 US Index:

What I can see, if we put all those 3 charts movement together.Buyers, are less confident now than few months ago. And start to lose discipline.Sellers are more likely waiting the perfect moment to get in and pay back for buyers lack of discipline.

 Second Part:

Day trading Chart of Targets for next week on ES E-mini Futures.

Day Trading ES 1440m Targets Chart

After week of consolidation, I don’t see any long term consolidation for next week, but won’t be surprise if we do get one. Is why if you take any trade next week, I will suggest to keep your targets close to your entry points … be always ready to get out if it doesn’t go your way any more.
This Week I’m Neutral ( because we have to many double top after this one, I will be more Short than Long.)

PS: VOLUME: As  you can see ES 1440(Daily), Buyers keep pushing Up, and “Rushing” with less volume than before.

Thank you and have a great week traders

PS: Day trading is not easy,we are in dangerous zone now, I don’t recommend to get in the market now, if your not well educated about Market&Trading.

CHART GOLD AND CHART S&P500 Day Trading 17-21 December 2012

HI I have to remove my post with targets explanation.

One trader make me realize I did not change “expiry date” for my futures.

My direction still “Long for both, S&P500 and Gold”

but, because my work was done on old futures contract expiry date…they are not as precises as us to be.

Thank You

Day trading course – Buyers remorse

Day trading course looks at technical price action on the S&P500 emini futures to see what could end the trading day in a little Buyer’s Remorse.

After a quick reversal and 2 days of buying with high volatility on the buyer side, the S&P500 emini futures bounced off of resistance at 1330. The overnight sessions have seen most of the move as the EU got together to agree on agreeing. First area of resistance at 1322.75 . If the market closes below here we could see a hammer finishing this move up and a test to 1330 giving 7 points of price failure where the sellers took the direction off of buyers.The previous swing highs at 1335 look to be the swing high target. If the market closes at the 1322.75 resistance or above look for a test of the swing high an maybe a continuation to 1352 and an extreme high target of 1363-65. This would be about two weeks ahead of the previous price projection pattern and complete the lower high in the long term off of the double top.

If this closes below the 1314.50 and we have a sell off into the close, looking for support at the 1304.50 area on the approach to the psychological 1300. This could be where the retail pulls out and actually starts the move to 1180 (longer term target). I would be looking for more “doom” out of the EU with a black swan event like Germany deciding they have had enough and pulling out of the Euro, or a collapse of the Russian Ruble as oil & commodities prices tumble. There are many doom situations coming out of Europe presently with Spain’s banking, insurance and credit structure coming into focus. It is a little bit of “eye off the ball” as Greece, Italy and some of the smaller countries are requesting more capital inflow to create liquidity. These short periods of political agreement on agreeing will cause the Euro to rally, which we might see the US indexes follow as the risk off trade looses some volume and bond prices fall.

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.

Day trading course will be in your area soon, join us for Day trading education.

We normally have a Montreal Day trading course, a Calgary Day trading course, and a New Smyrna Beach Day trading course.

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.