Day trading Market flies high on low volume trading, shaky foundation for a continuation to the upside.

The S&P500 emini future moved up on very light volume today. ON 1.27 million volume the S&P500 has traveled from 1322 to 1340. 18 points on a very small volume.   As long as this closes above 1332 the buyers will still be in control of this move.  If the emini closes below these levels we could see a sell off this next week.  If price can be contained at the highs  watch for consolidation up to 1350 over this next week.

Resistance will be coming in at 1340 from previous swing highs in August, and then 1351 and further to 1365.  If there is less commitment on the buying side through this next week, I will be looking for a sell off or a small correction.

Support on this move up will come at 1332.75 with Yesterdays high of 1325.25 acting as the first Major support.  If the market plays this back to this level and consolidates, watch for a rounding of the shoulder with smaller range days to complete a Head and shoulders pattern.  This is a crucial area of support here and if the buyers  are holding this we could see a test to higs of 1432 then 1465 and an extreme high of 1502 in the year.

Positions are doing quite well on the swing, looking for some tops but will hold in to the weekend if there is not a sell off.

Trade what you see and never listen to the so called experts. If you can’t see the direction of the market and don’t understand how to use a stop, then don’t trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late.

Day trading course focusing on the S&P500 emini futures support and resistance and efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.

Day trading course looks at price and direction, the support and resistance and the direction of the market.

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The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.

Disclaimer: day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in day trading.