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S&P 500 day trading for Sept 25 learn how to trade

 

S&P Emini 500 Futures gapped up 2.00 points with the 1059.25 open.  Heavy pre market volume, approximately 300,000 contracts, hinted that today might be volatile, The index did not disappoint.

S&P 500 day trading course sept 25

S&P 500 day trading course sept 25

Market reaction to the 8:30 jobs report was rapid.  The high for the day of 1062.00 printed in the first 5 minute bar, then a sell off began.  By 10:45, most of the day’s move had happened.  A descending 3-4 point deep trading channel developed over the next 3 hours and dropped the index another  2.25 points to the day’s low of 1041.00.  After retracing a few points, the close came at 1045.25, off 12 points from the prior close.  The daily chart shows the low resting at about the 20 sma, and a break below may signal more downward movement.  2.3 million contracts changed hands, higher than average volume on the first solidly down day in the last 17.

S&P 500 Emini Day Trading Gap Thursday September 24, 2009

 

S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Thursday September 24, 2009
S&P 500 Emini Day Trading Gap Thursday September 24, 2009

S&P Emini 500 Futures opened with a 2.75 point gap up this morning.  25 minutes later, the gap filled and a morning of tight, range bound trading began.  Traders seemed to be waiting for the Fed interest rate decision before committing to the market.  Right on time with the FOMC announcement, the market popped up 6.50 points, then began the rapid decline that led to a close of 1057.25, down 8.75 points.  The strength of the sell off is obvious when the move down is compared with the increasing volume.  Approximately 640,000 contracts traded in the last hour, over 25% of the day’s 2.13 million contracts traded.  The significant move down, coupled with increased volume may signal be start of a major correction.  Both the daily and weekly charts still show an up trend, but the daily chart is beginning to show weakness off of an overbought indication.  Today’s action filled the first of four lower open gaps.  This one is recent from the Monday September 21st close of 1060.00.  Next unfilled gap is at 1015.75 from the September 4th close.

S&P 500 Emini Day Trading Gap Wednesday September 23, 2009

 

S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Wednesday September 23, 2009
S&P 500 Emini Day Trading Gap Wednesday September 23, 2009

S&P Emini 500 Futures gapped up 6 points and never filled.  The day’s trading stayed within a very tight 6-7 point trading range with no directional conviction whatsoever.  Perhaps traders are waiting for tomorrow’s Fed rate decision before committing to a direction.  The open for the day and the close for the day were identical at 1066.00.  The close is up 6.00 points from yesterday’s close, and leaves the fourth open gap underneath the current trading range.  Average daily volume is 1.9 million contracts, today below average trading at 1.4 million contracts.

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