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S&P 500 day trading course for September 3 live trading

S&P 500 day trading course, levels of support and resistance. Live trading room with Joel Wissing. Extreme high 1027.75 Extreme low of 973.75 Point of control 994 We slowed down to a crawl today with a very tight and range bound trading day. Volume dropped off to 1.9 million today after yesterdays 3 million plus. Hopefully the market will face the piper on some of the valuations in equities and get this cleaned out in the third quarter. September is known as the worst performing month on the indexes and it has basically started off with the kind of direction to propel the markets lower. Lots of support here, but for how long? Join us in Montreal for a live training on October 3-5 with 1 day of live trading and 13 weeks of the live trading room.

S&P 500 Emini Day Trading Gap Thursday September 3, 2009

S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Thursday September 3, 2009.jpg
S&P 500 Emini Day Trading Gap Thursday September 3, 2009.jpg

S&P Emini 500 Futures gapped down 3.75 points to open at 993.25.  The gap had filled by 10:00 a.m.  Trading began after coming off a narrow overnight trading range of 9.25 points.  The range was even less during regular market hours, ending the day at 8.75 points high to low.  The close, 993.50, was only .25 points from the open, and prints September 2009’s first doji on the daily chart.  Volume was about average at 1.90 million contracts.

S&P 500 Emini Day Trading Gap Tuesday September 2, 2009

S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Tuesday September 2, 2009
S&P 500 Emini Day Trading Gap Tuesday September 2, 2009

S&P Emini 500 Futures opened the first trading day of September with a 5 point gap down.  The open at 1015 moved to the upside and filled the gap within the first 15 minutes.  Prices continued up to top out for the day at 1027.75, within a point of the open gap from Friday’s close.  Sellers took over and ran the market down for the rest of the day.  After a brief consolidation from 10:15-10:40, a powerful down trend developed.  The strength of the move can be seen in the increasing volume as prices declined.  Ragged consolidation took over at 11:40, and prices stayed within a 6 point range for the rest of the day.  The low of the day was marked at 995.50 at the 3:50 candlestick, and the close was only 1.75 points above the low at 997.00.  The range was huge at 32.25 points, way above the 19 point average.  Volume was also huge with 3.2 million contracts trading, well above the 1.8 million contract average.  The action today filled the open gap from the Friday August 20th close of 1005.50.

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