Montreal Day Trading – S&P500 back to resistance.
Welcome Back everyone, is 2013! Another Year to make great Cash on Market.
For this week, I don’t see nothing exiting for me….look like we are going to consolidate or going for a Short one, for lite bit.
Yes we are in double top, but at the same time, buyers looking to pass this resistance at 1460.00. If they do, Keep in mind, between 1460-1500 there’s lots of double top from 2008.
“Strong Resistance” : As you can see, every time when we touch this double Top, Sellers bring market down to 1429.00
“Pink/Orange” : This time, Buyers keep pushing day after day, higher than previous day. but at the same time, sellers show they presence, but very little bit…no strong commitment from both sides. Is a Small consolidation zone for me…
“50MA” : we are again to far from…and MA50 is under 1429.00.
For next week : so far I see no signal Short or Long. Is look like we will stay for few days…maybe all week in consolidation.
Direction: I’m Neutral this week, but I’m watch for Short signal. I won’t be surprise if we go to 1468.00 and then, go Short to touch my 1st Short target.How ever, if you take any trade this week, watch who’s in control all the time.
!!! If you looking to trade this week, make sure, you have the knowledge for it. It Is a great week for me to trade during the day on futures. !!! Montreal Day trading course and Montreal Day trading, Join us.