Day trading course breaking bearish channel

The S&P500 day trading course is looking at price action in the Bearish Channel and a possible change in direction.

The point of control on the daily chart is 1302 with the buyers in control in today’s session.looking for a high of 1317 with consolidation at the top of this move up. We are approaching the resistant trend line in this bearish channel that started this May and has continued. If price breaks above he the 13220 mark we could look for a move to 1340a and then to test the pre-Bin laden rally before the drop.

Support is coming in at 1290 then 1271. On the short term charts we are looking for a test of support at 1308 and then consolidation between there and the swing high of the day.