Wednesday April 29, 2009 S&P Emini 500 Gap

S&P 500 Emini futures market gapped down with an open of 845.00.  That gap represented 9.25 points lower than  Monday’s closing of 854.25.  The gap filled quickly in the first hour of trading.  Pricing moved up through two areas of resistance at 849 and 858.75, before closing lower at 851.00 on slightly less than average volume.  Today’s trading session high of 861.50, is the third lower high in the last three trading sessions.