Buying Pressure in the SPX

Good Morning,
First off, thanks to all who made the webinar full of great content. As I said, the more you participate with questions, the better it gets as we can cover more ancillary topics. If I didn't get to your question, feel free to get in touch with via email or on the IBFX Connect Site at "thelocalstake".
Fundamentally, we still have Bernanke, claims and unemployment. Is Bernanke going to warn us and try to temper a poor unemployment report so that the markets take some of the pain out on Thursday and it isn't a total shock to our system on Friday?

Technically, we have local resistance at 1330 and then major resistance from last summer at 1350(ish).
Getting to today's main topic, buying in the SPX. Take a look at the low price of the day over the past few trading days and then look at the close. Every time the SPX dips, buyers step in. Accumulation, accumulation, accumulation. Sellers dry up because they are beat up and buyers know they have the right of way to the upside:

Past performance is not indicative of future results
Eventually you explode out, like today. And, even though the SPX isn't above recent resistance, many fore pairs are. Check out the GBP/USD, AUD/USD, NZD/USD and USD/CAD (new lows). But, this brings an important relationship into play. The USD/CAD is at new lows, but oil is stagnat at the 100.00 mark. Thus, USO is stagnant as well - so USO and oil aren't participating (yet) in the equity rally and the weakening US dollar:

Past performance is not indicative of future results
Now you can see what a trading range looks like. Still opportunities to trade, but instead of focusing on a trend, you are focusing on support and resistance.
Link to Upcoming Webinar

Happy Trading and Be Environmentally Cool
Coach Brian
Forex  is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.