S&P 500 Emini day trading Gap Friday May 1, 2009

S&P 500 Emini day trading Gap Friday May 1, 2009

S&P 500 emini futures opened Thursday at 880.75 which created an 11.6 point gap up from Wednesday’ s close of 869.25.  The market continued to climb to the day’s high of 885.75 until 12 noon market time, when a rapid decline took place which erased the mornings gains and closed the gap.  The trading remained within an approximate 10 point trading range from 1:30 until market close.  The market closed at 869.75, just .50 higher than previous day’s close.  Volume for the day was slightly above average.  Wednesday morning’s 9 point opening gap up remains unfilled.