S&P 500 Emini Day Trading Gap Wednesday May 13, 2009

S&P 500 Emini Day Trading Gap Wednesday May 13, 2009

S&P 500 Emini Futures quickly filled Tuesday morning’s 4.50 point gap up in the first 15 minutes of trading. By 1:00 PM market time, pricing fell to it’s low for the day of 894.00. Futures then proceeded to reclaim most of the day’s losses, coming within 1.50 points, but never recapturing the high of the day, 913.50. The last 30 minutes of the day’s trades showed a close of 905.50, which reflects a 38.2% Fibonacci retracement of the afternoon’s rally. The Tuesday close was down 2.75 points from the Monday close.