S&P 500 Emini Futures Day Trading THE GAP 
- S&P 500 Emini Day Trading Gap Monday February 1, 2010
S&P Emini 500 Futures gapped up Friday in a vain attempt to retrace the Thursday drop. The index got to about 80% of the retracement when it hit the day's high of 1093.75 right at the end of the morning session. From there, the bottom fell out. The market dropped 20 plus points from the high, with a couple of meager attempts at retracement, but ultimately tested and penetrated the Thursday low. The last 5 minutes of the day showed a big sell off as the 1074 level became resistance. The close came near the day's low at 1069.00, down 11.75 points from the prior close. All time frames (monthly, weekly, daily) show a break of the up trend since last March. Look for support at the psychologically important 1050 level, with next technical support at the 1020-1025 level. A short term bullish bounce on news, or short covering, might bring the index back to 1090 support. A close this week on volume above 1100 would break the short term down trend. Volume has been very heavy the last few days at over 3 million contracts per day
S&P 500 day trading course
