S&P 500 Emini Day trading Gap Thursday June 4, 2009

S&P 500 Emini Futures gapped down 8.25 points with an open of 835.75 Wednesday. Sellers stepped in for the morning session and sent prices down to the 928 level, then trading became range bound until after lunch. At 1:00 PM market time, prices fell through the bottom of the range, and dropped 5 more points to settle into a 2.5 point area of congestion that lasted from 2:00 PM to 3:00 PM. The low for the day, 922.50 was hit 20 minutes before the close, then futures rallied 9 points to close at 931.75, down 12.25 points from the Tuesday close. Wednesday’s low precisely filled the remaining gap from the Friday May 29 close.