S&P 500 Emini Day Trading Gap Monday June 1, 2009

S&P 500 Emini Futures opened Friday’s trading at 909.50, A 5 point gap up from Thursday’s close. 20 minutes later, the gap had filled and futures were trading at the low for the day, 902.25. For much of the remainder of the day, a relatively narrow 6-8 point trading range developed. At 3 pm, market time, prices entered congestion and stayed there until 3:40. Then, buyers stepped in and dramatically took over. The final 5 minutes of trading showed a 14.5 point candlestick on huge volume. The close of 922.25 was within 2.5 points of the day’s high, 925.75.