S&P500 day trading course price action and Gold following price action into the decreasing volume as traders depart for the holidays.

Wall street christmas S&P500 emini futures day trading course

Every year there is wonder and seeming amazement as we enter the holiday season and there seems to be a bit of levitation as the markets drift up. This Chris Angel like magic has the numbers reaching new highs in the after hours and sending it back down just before the open. The S&P500 emini then seems to almost magically lift off on little or no volume to again reach new highs.

S&P500 day trading course daily chart dec 22

Support at 1221 then 1240 with a Point of Control at 1245.50 Would expect to see this move down in the overnight for another act of levitation during the normal trading hours.

On the high side looking for resistance at the previous highs around 1250, with further resistance coming in at 1253.75 then 1258.75 then 1265 as the extreme high.

Looking at the move up in Gold, as we re approach the resistance at 1400, gold is moving up on light volume and showing buyers weakness.
support on the daily will be in around 1375. We have broken the major trend line with a higher high but we are seeing weakness on he retracement and the start of a bearish channel.

Gold is moving towards resistance on low volume.