S&P 500 Emini Day Trading Gap Friday March 26, 2010

S&P 500 Emini Futures Day Trading THE GAP

S&P Emini 500 Futures gapped up 8.25 points this morning, then proceeded to notch a new high for the year.  The high, 1176.50, provided serious resistance, as the average fell to fill the gap, then continue lower to close near the session low.  The chart volume graph shows volume increasing as the price fell, with a big 100,000+ contract volume in the last five minutes.  Total volume on the day was above average, the daily candlestick formation suggests a bearish tendency.  Watch pre market volume for an indication of how the S&P Emini will trade in the first hour of regular trading after the 8:30 a.m. GDP report.