S&P 500 Emini Day Trading Gap Wednesday September 23, 2009

S&P 500 Emini Day Trading Gap Wednesday September 23, 2009

S&P Emini 500 Futures gapped up 6 points and never filled.  The day’s trading stayed within a very tight 6-7 point trading range with no directional conviction whatsoever.  Perhaps traders are waiting for tomorrow’s Fed rate decision before committing to a direction.  The open for the day and the close for the day were identical at 1066.00.  The close is up 6.00 points from yesterday’s close, and leaves the fourth open gap underneath the current trading range.  Average daily volume is 1.9 million contracts, today below average trading at 1.4 million contracts.