S&P Emini 500 Day Trading Gap Monday May 4, 2009

S&P Emini 500 Day Trading Gap Monday May 4, 2009

S&P 500 Emini futures opened Friday’s session with virtually no gap from Thursday’s close. The day’s session traded in a relatively narrow 15 point range as opposed to an average true range for the S&P 500 Emini futures of 23.5 points. Volume was lower than average Friday by a factor of approximately 27%. Friday’s closing price of 874.25 represents the highest daily closing price since January 28th, and sits at an important point of resistance. As an information point, the S&P 500 Emini futures 4:15 PM EDT market close, 876.50, breaks the January 28th high of 876.00.