- S&P 500 Emini Day Trading Gap Monday July 6, 2009
S&P Emini 500 Futures gapped down 12.5 points at the Thursday open of 906.75. The price got 2 ticks higher within minutes, and staked the day’s high of 907.25. Prices surrendered 10 points in the first hour, retraced about 1/3 of the drop, then settled into a long 2+ point area of congestion. Trading muddled along in that zone for about 4 hours. In the last 40 minutes of the trading day, prices broke the bottom of the range and fell to the low of the day, 892.75. A brief rally ensued but found resistance at the bottom of the prior range. In the last 5 minutes of trading for the week, prices fell back to form the double bottom at 892.75, then closed close to the low at 893.50.
