S&P 500 Emini Day Trading Gap: Monday August 10, 2009
S&P 500 Emini Futures Day Trading THE GAP
- S&P 500 Emini Day Trading Gap Monday August 10, 2009
S&P Emini 500 Futures provided traders with a big 10.50 gap up Friday morning. Emini futures opened at 1005.00, dropped to 999.50 to fill half of the gap. That’s as close as it came to filling. That price turned out to be the low for the day. At about 10:10 a.m., buyers stepped in and drove prices nearly straight up 12.50 points before consolidation set in. Trading moved within a 4 point deep box through lunch, then popped up to the day’s high of 1016.00 at about 1:40. Prices moved sideways until 2:30, then fell below the 1013.75 support level, and dropped quickly. The sell off continued to the close of 1007.00, still up 12.50 points for the day. Today’s 16.50 point range was close to the average true range of 17.2 points. Volume was above the 1.89 million contract average at 1.98 million contracts. The close is the highest for the year and 1016.00, the day’s high, is a new high for the year.
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