S&P 500 Emini Day Trading Gap Monday August 3, 2009

S&P Emini 500 Futures opened within a tick of yesterday’s close at 982.25, so, no gap today.  Trading all day was sideways within a 7-8 point range that stayed mostly inside the lower two thirds of yesterday’s range.  I’ve included yesterday’s trading on the chart to show the overhead minor downtrend from the Thursday high.  Today’s high was 990.50 that printed on the 3:30 p.m. candlestick.  From there, a sell off took prices to the low end of the range, and the close of 983.50 was up a point from yesterday.  Nevertheless, today’s daily candlestick shows as a doji.  That’s two dojis in the last three days.  Perhaps the market is in decision.  Volume was slightly above average at 2.0 million contracts.