S&P 500 emini futures day trading THE GAP Click on pic to enlarge S&P 500 Emini day trading Gap Friday May 1, 2009 S&P 500 emini futures opened Thursday at 880.75 which created an 11.6 point gap up from Wednesday’ s close of 869.25. The market continued to climb to the day’s high of 885.75 until…
Learn how to trade futures, S&P 500 emini futures Opened today @ 879.50 after yesterdays 868.00 close, leaving us with a nice 11 1/2 point gap to fill. Being thursday gave us a nice indicator to watch for a change in direction. After open we kept with our 2 day up trend peaking @ 887.00 this morning before breaking through support @ 879.25 early this afternoon giving us our change in direction and filling the gap shortly after 1’oclock. Point of control today being 875.00, with an intraday low of 864.50. Nice little sell off just before close today (I wish I was in on!) closing out at 869.00. Let’s see what tonight brings and be ready to make some money in the morning.
Psychologically, alot of investors are waiting for it to go back down again so they can get in. That is where the set up will occur. It won’t go down for a period, Investors will get tired of waiting and will test the market with small buys into their mutual funds or a few Stocks that they like. As they slowly increase their positions and they are feeling safer and safer, the market will turn against them.
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