S&P 500 Emini Day Trading Gap Wednesday June 10, 2009

S&P 500 Emini Futures opened and closed today at the same price, 941.75. This forms the third daily doji in a row for the Emini futures, a sign of an indecisive market. Today’s open reflected a 4 point gap up from the Monday close. Prices rallied up 4 points, then failed to the low of the day, 935.50, by 11 AM. Trading entered an up trend that lasted most of the remaining session and reached the high for the day of 947 at 2:45 market time. The up trend line broke in the last 30 minutes of the regular trading session to form the doji. Emini Futures prices have been close to but have not sustained closes above the January 2009 highs of approximately 943.00 for the last 6 trading sessions. The highest close in this month occurred June 2nd at 942.75. That’s right at the January high.