S&P500 day trading course Daily chart pre market.

S&P500 day trading course Daily chart pre market

1080 was the Daily Point of Control for Friday and we closed above it.  It was a light volume day with a small bullish range.

The world cup probably had a major effect as most of the trading houses were watching the game.

1087.75 is the 200 EMA which professional traders use as a basis for congestion between here and the 200MA which is coming close tot he 1100 Mark.  I am expecting a test up.  If we close above the 200 MA then looking for a futher move to the 1139.25  resistance.  It seems that we are completely missing a high volume rally and that most of the market makers are in short term positions probably hedging into all buys.

Summer seems to be setting in, I hope we don’t see a summer volume drop off.