S&P 500 Emini Day Trading Gap Wednesday September 30, 2009

S&P Emini 500 Futures gapped up 2.25 points to open at 1060.75.  The index topped out for the day 30 minutes later, 1065.75, then fell quickly to fill the morning’s gap.  The rest of the day seemed to trade around yesterday’s close of 1058.25 (approx. +/- 4 points).  The close came at the lower end of that trading range, once again reflecting some directional uncertainty in the market.  Volume was about 200,000 contracts below average with 1.65 million contracts trading hands.  With only 5 points separating the open and the close, no market direction is apparent.