looking at areas of support and resistance on the S&P 500 emini futures.

This is for our day trading course on the S&P 500.

845 will be a major area of resistance, once we get through here we can possibly get to 875.  looks like we are about to go into a longer term bear trap where we will flush out these buyers in this week move up.

Haven’t seen major commitment on the move up either.  The market makers could be stepping in slow in order to get their lower price, but size has not been present.

If they wash these buyers out new lows could be on board and a chance for the capitulation.  Intresting that none of the pundits or hacks out there are not mentioning a possibility of  a move down.  Like it is almost taboo.

We shall see.

Shall be posting a bit more on the picture of derivatives, the commercial paper and the next blood bath coming up.  Funny how the myth of liquidity is the propoganda to keep our eye off the ball with valuations.  I hope the new home buyers in this next buyers spree have at least 20% DOWN in order to cover their short term losses.