S&P 500 Emini Day Trading Gap Wednesday July 8, 2009

S&P Emini 500 Futures opened with a minor gap down that was filled in the first few minutes of trading. The high of the day was yesterday’s close, and the market trended down all day. There were a few retracement patterns during the day, but the overall trend took prices to a low that butted against support from mid May at 876.00. Volume on the day was about the 50 day average at 1.97 million contracts.