S&P 500 Emini Day Trading Gap Friday May 8, 2009

S&P 500 emini futures day trading THE GAP

S&P 500 Emini Futures opened Thursday’s trading action with a large 9 point gap up.  A  sell off quickly filled the gap. Emini Futures moved to a loss for the day, closing down 12.75 points at 903.50 on above average volume.  Thursday’s trading exhibited the formation of a channel with lower highs.  Compare that bearish trait with Wednesday’s bullish action of higher highs.