S&P 500 Emini Day Trading Gap Thursday January 14, 2010

                         S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Thursday January 14, 2010

S&P Emini 500 Futures filled yesterday's open gap on a good volume day with an above average trading range.  It seems volatility and volume are returning to the market.  Over 2 million contracts traded for the second day in a row.  The index retrace all of yesterday's decline and finished up 10 points at 1142.00.  Tomorrow will bring several high impact economic reports before the market opens.  Those reports will most likely dictate tomorrow's trading action.

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Forex trading Pound rose against dollar.

The pound rose for a fourth day against the dollar, its longest run of gains since November, after Bank of England policy maker Andrew Sentance was cited as saying interest rates may have to increase this year. The British currency also climbed versus the euro and the yen after the Guardian newspaper reported Sentance as saying the bank has done enough to stimulate the economy. The pound climbed to $1.6219 as of 8:39 a.m. in London, from $1.6164 yesterday in New York, for its longest sequence of gains since the five days through Nov. 9. It strengthened to 89.30 pence per euro, from 89.63 pence, and appreciated to 148.04 yen, from 147.06. The yen fell against all 16 of its most-traded peers tracked by Bloomberg before fourth-quarter earnings reports this week from companies including Intel Corp. and JPMorgan Chase & Co., which some analysts say will bolster stocks. Australia's dollar traded near an eight-week high against the U.S. currency on speculation a report tomorrow will show payrolls increased for a fourth month. Gold rebounded from its biggest drop in almost three weeks in London on demand for an alternative to a weaker dollar and lower prices for other commodities. Gold for immediate delivery rose as much as $6.39, or 0.6 percent, to $1,134.89 an ounce and was at $1,132.47 at 9:43 a.m. local time. Bullion for February delivery added 0.3 percent to $1,132.80 on the New York Mercantile Exchange's Comex division.

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