[/caption] S&P Emini 500 Futures began the last week of February with a 4 point gap up. The high of the day, 1111.00, was hit in the first 5 minute candlestick. The index filled the gap in the next 10 minutes, then spent the remainder of the day in a tight trading range. Today's 7.5 point range mirrored the last portion of Friday's range. Today's 1106.75 matched the Friday close on the number. Today's narrow range and doji formation was on fairly anemic volume, and indicates a market in decision. Hopefully, the high impact news slated for tomorrow, the consumer confidence report at 10:00, will infuse some volatility into the market. Look for a dip to the technical support of 1092, or at least to the psychological level of 1100. A break below 1092 on volume may lead to a test of the 200 ma at about the 1030 level. S&P 500 day trading course
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