S&P500 day trading course open charts

S&P500 day trading course Lunch time NY

Move on resistance for the weekly Point of control at 1133.25 This is a key area on the S&P500 emini futures contract as buyers will be gaining control for the move to an extreme high of 1156.25.  This is a low volume march upwards to 1140.

We have some support at 1129-31 area as there was a volume increase in buys here.  Expecting to see some exhaustion here as the buyers re group to run at the resistance again.

If the buyers loose control here, we could see a complete reversal to todays open in the after hours.

Watch for news this week and maybe some pressure out of Europe as Ireland pops onto the pressure on the Euro, this could also push the US market down as dollar gets a bit of a rally.

Normally, there is an inverse relationship between the two, we could see a bit of  “deCoupling” as this intiallly occurs.

Trade what you see.