Find us on Google+
Subscribe Via RSS

S&P 500 Emini Day Trading Gap Tuesday September 22, 2009

 

S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Tuesday September 22, 2009
S&P 500 Emini Day Trading Gap Tuesday September 22, 2009

S&P Emini 500 Futures opened the week at 1054.50, a gap down of 8.50 points from the Friday close.  Prices chopped around until 11:00, then broke out to form a ragged 5 point deep trading range.  The index popped up to a high of 1062.75 on the 3:20 candlestick, printing within a tick of the Friday close and technically filling the gap.  The close of 1060.00, down 3 points, fell in the middle of the afternoon trading range.  Today’s volume of 1.7 million contracts was slightly less than average, and the 12.75 trading range was just under the 13.6 point average.  The average true trading range has dropped from the August average of around 20 points.  Expectations of increased volatility after Labor Day have yet to be fulfilled.  The daily chart candlestick is falling away from the overbought condition of last week, and looks as though it may be moving sideways this week.  It’s too soon to tell what the week may bring, but today’s action shows indecision in the marketplace.

S&P 500 day trading course daily chart Sept. 21

 

S&P 500 day trading daily chart for Sept 21.
Testing resistance. Probably be in top side consolidation with a test down to give us a chance for more buyers to step in.  Could be stepping into a narrow range for trading this week until new direction is determined.

S&P 500 day trading daily chart

S&P 500 day trading daily chart

S&P 500 Emini Day Trading Gap Monday September 21, 2009

 

S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Monday September 21, 2009
S&P 500 Emini Day Trading Gap Monday September 21, 2009

S&P Emini 500 Futures gapped up 4.75 opening at 1066.75.  The index spent this options expiration Friday in a narrow 8 point deep trading range.  The opening candlestick was within a tick of the day’s high at 1067.00.  Prices quickly fell, filled the opening gap, and hit the day’s low of 1059.25 by 12:05.  Traders took the price level back up to the day’s high, 1067.25 by 3:30, and created a double top for the day.  A 4 point sell off in the final 30 minutes of the week brought in a close of 1063.00.  That closed the week up a point from the Thursday close, and concluded the 9th up week out of the last 10.  The weekly chart still shows the index firmly in the overbought category.  The daily chart also finished in an overbought condition, although today’s close prints the second doji in a row.  The daily volume came in average at 1.87 million contracts.

This site and Money Maker Edge™ and authors do not offer individual financial, investment, medical or other advice. Nothing on this site should ever be considered to be personal advice, research or an invitation to buy or sell any securities. We also make mistakes and bad decisions sometimes, and our reasoning or data should be checked against trusted sources before they inform your investing decisions.Choices regarding how to invest your money or otherwise manage your life or finances are yours, we share only our analysis and opinion and all authors or commenters are individually responsible for the words and opinions they share here. Please read our important disclaimers and policies.Money Maker Edge™ is supported by subscribers and by sponsors and advertisers. Money Maker Edge™ authors Trade what they are writing about and should be assumed to have holdings.

Money Maker Edge™

Money Maker Edge™ Trading Course 866-640-3737
Powered by WordPress All Content Copyright © Day trading course S&P 500 learn how to trade
Theme created with SpiderWeb Press™.