S&P 500 Emini Day Trading Gap Friday August 28, 2009

S&P Emini 500 Futures opened at 1026.00 this morning, which was .75 points below yesterday’s close.  The small gap filled in the first few seconds of trading, prices headed down 12 points over the first 40 minutes of trading and bottomed out at the day’s low of 1014.75.  Over the next 4 hours of the trading day, the index retraced all of the morning’s decline, and then topped out at the day’s high of 1032.75.  Prices settled back over the last 1 hour 15 minutes of trading to close at 1029.75, up 3.00 points.  Volume was above average at 2.1 million contracts, and the 18 point trading range was on the average of 18.3 points.