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S&P 500 Emini Day Trading Gap Tuesday August 4, 2009

 

S&P 500 Emini Futures Day Trading THE GAP

SP 500 Emini Day Trading Gap Tuesday August 4 2009 S&P 500 Emini Day Trading Gap Tuesday August 4, 2009sp 500 day trading course
S&P 500 Emini Day Trading Gap Tuesday August 4, 2009

S&P Emini 500 Futures gapped up 11.25 points this morning  at 994.75.  Prices quickly fell over the next 25 minutes, but only managed to fill half of the gap.  Today’s low of 988.75 was marked at 9:55, then the futures  turned to the upside at the 10 a.m. reversal.  Trading stayed within a 12.25 point range today, climbing to new highs for the year, and closing at the magic 1000.00 level, close to the day’s high of 1001.00.  Volume was below average at 1.75 million contracts.  We now have 3 open gaps beneath the current price levels.  Conventional wisdom states that all gaps ultimately fill.

S&P 500 Emini Day Trading Gap Monday August 3, 2009

 

S&P 500 Emini Futures Day Trading THE GAP

SP 500 Emini Day Trading Gap Monday August 3 2009 S&P 500 Emini Day Trading Gap Monday August 3, 2009sp 500 day trading course
S&P 500 Emini Day Trading Gap Monday August 3, 2009

S&P Emini 500 Futures opened within a tick of yesterday’s close at 982.25, so, no gap today.  Trading all day was sideways within a 7-8 point range that stayed mostly inside the lower two thirds of yesterday’s range.  I’ve included yesterday’s trading on the chart to show the overhead minor downtrend from the Thursday high.  Today’s high was 990.50 that printed on the 3:30 p.m. candlestick.  From there, a sell off took prices to the low end of the range, and the close of 983.50 was up a point from yesterday.  Nevertheless, today’s daily candlestick shows as a doji.  That’s two dojis in the last three days.  Perhaps the market is in decision.  Volume was slightly above average at 2.0 million contracts.

S&P 500 Emini Day Trading Gap Friday July 31, 2009

 

S&P 500 Emini Futures Day Trading THE GAP

SP 500 Emini Day Trading Gap Friday July 31 2009 S&P 500 Emini Day Trading Gap Friday July 31, 2009sp 500 day trading course
S&P 500 Emini Day Trading Gap Friday July 31, 2009

S&P Emini 500 Futures had a big 11.50 point gap up this morning.  The open, 983.75, erased the open gap from Tuesday’s close, but created a new one since today’s gap never came close to filling.  Today’s low was marked in the first 20 minutes of trading at 981.50.  Prices rallied over the next hour, got to the day’s high of 994.00, then settled into a 5 point range that lasted until the last 20 minutes of the trading day.  A sell off brought prices back down to slightly below the opening price, and closed at 982.50.  Although the day’s trading range was 12.50 points, most of the action took place in the upper half of the range.  Volume was above the 1.88 million contract average at 2.2 million contracts.

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