Head and shoulders formation on S&P500 emini futures into the weekend.  

A Head and Shoulders Formation is appearing with our initial target of 1368.50 on the S&P500 emini futures. This is the pattern discussed Tuesday as we are watching for sellers to move in at these levels.

If buyers commit to the move from 1365.50 and approach the resistance with some volume there is a good chance they can take control back and move to the next area of resistance at previous swing highs around 1377.25 .

Watch out for dissipation in volume in the afternoon as there is no direction and quick market maker commitments can wash out stops.

Support coming in again at the 200 MA in  red around 1365.  Which was the point of control for today.  Buyers have control but as you can see, if there is price failure on the move up, there is a good chance we can keep this March settlement period alive and see moves down.

The first area of support will be at 1351.25 and then the previous swing low at 1338.50 .  This should provide some support and we could see some consolidation before the next move down.  A further test to 1331 and then major support at the “psychological support”  1300.

A fully executed support on the head and shoulders would be around 1330, 1300, and 1282.

If the Head and shoulders disappears into a period of consolidation with a touch down to 1362 and a reversal, watch for the break of resistance and a move to previous highs.  The execution and extension of this move would be to 1432.

Trade what you see and never listen to anyone.  If you don’t use a stop and can’t read a chart, stay away from trading,  You can loose all of your money and more.

&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 on the Head and Shoulders formation, and the direction of the market.

Day trading course will be in your area soon, join us for Day trading education you can learn more about how to trade the head and shoulders formation.

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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.  We show you price patterns and how to manage risk.

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 and managing your risk.  This is not advice on how to trade the Head and shoulders pattern.