Day trading course Bull Market Approaching Highs – The S&P500 emini future is approaching previous swing highs of 1468.

The S&P500 has been in a very choppy range moving to new highs with a series of higher lows. The previous support at 1452 held and we broke through the resistance to get above 1460 in the overnight. This is leaving a gap at 1456.

Watching for initial resistance at 1467 which was the previous swing high. On a longer term chart we can project the next area of resistance 1472 then 1480 and 1486 with an extreme high at 1503. The Euro is showing strength and the dollar index weakness, a good sign that the market could continue its major trend.

Support will be coming in at 1460, 1456 and 1450 in the short term, with 1442 being major support on the 200MA.