S&P 500

Day Trading SP500

Day Trading SP500 : Last week we finally start to see sellers get in the game everywhere. Next week we will test few important resistance on different index. For now, I will just focus on SP500 US Index.

S&P500

Day trading SP500 Weekly chart Using ^SP-500 Chart

Since December 2012, Is a first time we see sellers candlestick with strong volatility. ~1550 price, are important for next week. For 5 weeks already, sellers try to close under this price, but every time fail to break this support. And every time  they show more and more commitment to close under this price.

On buyers side there no commitment anymore. Normally  when sellers fail many time to close under certain price, buyers will use this opportunity to bring price at new highs with strong commitment. But this time we don’t see this anymore….Probably at this point, Investors have no more money to invest anymore ..they realizing price are to High?  :)

s&p500 chart

On daily Chart, is more easy to see Sellers commitment on this move short, compare to others one during last last 5 weeks. Sellers finally achieve they goal on Thursday and close under 1550 with strong commitment. they also test MA50 and try to close under MA50. Is Normal they din’t succeed and we saw Buyers stop Sellers at this point.

Right now, we are in a fight zone (orange zone), and so far Sellers are winning. Next week, we will see Sellers break this resistance, and go to RR1&200MA on daily.  On Sellers road, they have few resistance, since we make new highs. But they should not show any strong importance  When Sellers decide to sell, is never easy for buyers to stop them, especially on small resistance.

ES chart

How strong are Sellers? On 60min chart ES E-mini futures we can see

On first movement Short, Sellers just break 200MA , No resistance at all from Buyers side. Volume are only controlled by Sellers. Sellers let buyers go back to about 50%, test 200MA, and one more time, bring SP500 price almost at same level than last movement short. After what we can see in volume sellers taking a break. And with low volume on sellers side, buyers can’t do much. Right now, Sp500 price, will test my Red trend Line, and probably 200MA at the same time. For what I can see, we are in a fight rage on 60min ( Orange Area). It will be very important to see if and how Buyers and Sellers will react on the opening of market.  Like always, Is important to see who’s in control, and how Sellers or Buyers Control they price.

volatility Index

Volatility Index on Daily

I make a post about VIX not long time ago, and mention to see if VIX price will be able to close above 200MA. First time they fail, but last week they finally succeed.  The importance of this move it can be critical for Market.

So far, it look like my red Short trend line, can be used as support for Vix buyers on this chart, and 200MA also. Now what is important to see, is if Vix will break Lower High Trend.

Short Target for SP500: 1532 – RR1 – RR2 – RR3                                                                                                                               Long Target for SP500: 1560 -1568

What to watch for? 60 minutes chart, how Market will react on the 200MA, I will say taking a Long trade is up to you, but for my self I will concentrate my effort only on Short trade, and will prefer to miss long trade.

S&P 500 Day Trading

S&P 500 Day Trading, Using ES 06-13

sp500 day trading

S&P 500 Day Trading Monthly Chart:

On monthly chart you can see buyers fail twice to reach UP Bullish Trend line, and probably will fail on the 3rd time. Right now we can see sellers get in the market on daily charts. What I’m watching for, it’s if at the end of this months, market will close under 1508. Is an important price for buyers to support if they looking to keep moving Up for next months and reach my UP Bullish Trend line. If price won’t be supported above 1508, I’m looking to short s&P500 Index,

Volume: Buyers moving UP with almost same volume all the time, but on every move , we can’t match the previous volume high.

S&P 500 Day Trading short soon? We still have 1 week to see how this month will close. If we close under 1508. I will see if there’s a short direction to “call”. Depending on how thing will go on the market. If buyers price will supported…I’m out from s&P500 trading for next months again.

Perfect markets before Perfect storm

Perfect markets before a perfect storm – Trading the S&P500 emini futures.  Don’t buy at the top!

The S&P500 emini futures and most of the indexes have been experiencing a very calm and continuous gain for quite a while.  We are noticing that even as more bad news has been hitting the air that even better good news is coming to the rescue.  Sometimes even before the real numbers are seemingly known.

Trading on the S&P500 has been a slow and grinding process to these highs and many traders have been sidelined worrying about the correction or the retracement before a break to new highs.

S&P500 Emini futures trading Perfect Storm – Point of Control on the S&P500 emini futures contract is 1502 into this closing with next week starting off at 1498 and 1508 dependant on the after hours opening on Sunday.

The previous long term swing high was at 1460 and when price gapped up from 1420 to 1442 giving price momentum to approach this elusive resistance level, It continued to consolidate 5 trading days on decreasing volume before the breach and continuation to 1506 and 1508 resistance.  I left the Fib projection for an overbought move off the previous swing highs to the swing low in November.  Using this as a consideration the projection would be at these levels.  The last four days of trading we have had increasing volume for the test of support in the consolidated zone from 1494 to 1504 until we got the break on today’s move up from that support.  Watch as this continues testing that support and we get a move up on the dollar index.

The dollar index is ready for a bounce up which will send this market down to test the support at 1500 then 1496 The weekly point of control is 1490.

Could be a bit consolidated.  Watch your self.  False break outs, consolidation and a choppy price action on major supports.