Day trading course S&P500 day trading tips 60 min chartJoel Wissing
Day trading course S&P500 day trading tips 60 min chart Price action on the S&P500 emini futures contract.
The S&P500 emini has moved up on decreasing volume. When volume decreases after a move up we will normally end up in a consolidated range.
The only low volume moves that we experience is in the after hours when many of the supports and resistances have been tested making it easier to move through in Regular trading hours.
The point of control is at 1331.25 and as of now sellers are in control. Watching for support to come in at the 50MA 1328.50 with more support just under this in a small congestion zone to 1327.
Continuing support at the swing low at 1323.75 then 1320 area on the red 200 MA.
More Resistance will come in at the point of control on the way back up and at previous swing high levels around 1336-1338. If we see a break of this swing high then our next resistance will be coming in at 1341. After this we are looking at a longer term extreme high of 1356.25 to 1362.50.
A quick trading tip for any of you fighting a cold or just feeling down. Stay out of trading. It will be an expensive lesson for you until you are better. Remember 90% of this is the psychology of using your edge in this market place. If you are sick or feeling down, it is better to get healthy so you can use your edge.
Trade what you see.
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