Day trading course S&P500 weekly chart Day trading

Day trading course S&P500 weekly chart Day trading watching the S&P500 emini futures contract on the weekly chart.  Day traders are watching these levels and taking a break today after the past few days of movement.  We had a very low volume cross the board.

Watching 1278 to 1301 as a congestion zone on the weekly.  This is framed by two points of control.

If day traders sell this below 1278 then the sellers will be in control.  If day traders buy this through 1301 with a close on the weekly then the buyers will be back in control.

The 50 Ma is moving up and pretty close to crossing 1200.  This is a great area of long term support.  If price goes through here we would be looking for a sell off.

We have resistance comin in at 1327 and also at the previous swing high of 1342.

Watch out on the news as Japan, Oil, Libya, Egypt and Europe credit spreads could be cycling through the market.

We have had our eye off the ball as the international news has kept us from focusing on the larger picture of our Money Supply and the crazy antics of our Keynesian Money party.