Monday’s market broke out of pre-market congestion and filled Friday’s Gap within the first hour and a half. The market pierced a resistance level of 865.25, consolidated, then fell to an area close to pre-market congestion. Market close was above prior congestion’s resistance .
Monday April 27 2009 S&P 500 Gap
Friday close 861.50
S&P 500 emini futures day trading and live room, looks like the point of control from yesterday is still holding.
If we can break through 843.5 and move dow with some volume we could get a bit of a sell off. On the up side if we wrestle through our point of control we will be looking at a bit more consolidation. I doubt we will make it to the previous swing high and up to 875.
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