S&P500 day trading course daily chart in live day trading room.  Support and resistance.

S&P500 emini futures daily chart june 10

We are still in a bearish channel with lower highs and decreasing volume on the rallies.

Low volume today as we have a contract change to September Emini futures contract.  Our daily average volume is around the 2.58 million mark based on 13 days.

The point of control for direction is 1080.50 on the weekly chart and it is transferred on to the daily chart showing us an area of resistance.

Looking for it to retest the 1087-1097 area Friday from a low of 1068.

Watch your self into the close on Friday, Europe’s close could give some indication of direction.

Looking at the 30 minute Chart on the S&P500 emini futures September contract:

S&P500 day trading course 30 min chart 6-10

Lots of price failure on the move to 1067.  Could expect this to be a bullish flag pattern with a 1080 target.  This would keep us in the the bullish Channel you can see on the chart.  Will need a volume commitment in the 120,000 plus on 30 min bar.

Point of Control for the day is 1073.25 with a support coming in at 1067, 1059 and the supporting trend line in the bullish Channel around 1055, which could be the intersection of the 200MA and the supporting TL.

1047 is the lower major support with 1038 below that .

Extreme low of 1018.

Watch yourself in to the close and always trade with a stop and a target.

See some of you in Montreal June 19-21.