S&P 500 Emini Day Trading Gap Tuesday February 16, 2010

S&P 500 Emini Futures Day Trading THE GAP

S&P Emini 500 Futures gapped down over 11 points at the open, and rallied back to fill the gap on good volume.  So much for the theory of low volatility and volume on a Friday preceding a holiday week end. The close for the week was up from the prior week on nearly as much volume. The index looks to test the 1100 level, then resume the down trend to the 1025 level. That will test the 200 ma, supposedly a buying spot for institutional traders. We shall see. A move above 1100 with validation will signal a possible resumption of an up trend.