S&P 500 Emini Day Trading Gap Thursday February 18, 2010

S&P 500 Emini Futures Day Trading THE GAP

S&P Emini 500 Futures gapped up this morning, then filled in the first two hours of trading.  The futures had a narrow trading range today with a test of the 1100 level pre market and post market.  The price has been touched, so tomorrow may see a move through that level.  Several news reports tomorrow, led my the jobless claims report pre market, will have an influence on direction for the next couple of days.  Options expiration on Friday also lends to possible volatility in the Emini Futures.  Today’s volume was less than average, and indicates possible lack of conviction towards upward market movement.