S&P500 day trading course, learn how to trade – Weekly Chart S&P500 futures.
The S&P500 emini futures weekly chart. Broke through and maintained direction after 1400 Creating new floor in the extension of this move at 1436. It would not be unusual to see price test to here and consolidate, but as the market is in the last two trading weeks of September, I am instead, watching for a test of the move to 1460, with consolidation on the top side and a further extension to first resistance at 1478.
If price moves through resistance at 1478 the long term picture to continue the move to 1530, then to our extreme high of 1615.75 This is on a weekly chart, using this macro picture to the upside extension of this bullish move can take time with break outs and head fakes, don’t trade cash unless you are willing to take responsibility for you money.
If Volume on the S&P00 emini futures increases this week to over 7 million, I will be looking for the follow through on the move.
If we hit resistance and do not take out the swing high from last week, then the S&P500 emini could re test the support at 1442, then 1421. An extreme low of 1400 would keep us in this bull market. We still have quite a lot of room to keep us in this bull market.
Remember, a bull market doesn’t necessarily reflect the consumer side economy as it “trims the Fat” in the employment sector. This is the same patterns we can see in Japan’s economy as corporations became more effective and moved jobs offshore. Watching for Unemployment to spike up again into January as we are reaching these market highs.