[/caption] S&P Emini 500 Futures started Friday with a gap up to test the 1150.00 level. That level was pierced, then prices quickly fell into a relatively narrow range that found resistance at 1146.50. The close of 1144.75 approximated the median of the 4 point range that persevered for most of the day. The daily candlestick closed in a doji reflecting the current uncertainty as to market direction. Volume for the day was average, and the flat results marked the first day in the last 11 days without a higher close. Next Friday is options expiration which often is preceded with bullish market behavior. There appears to be massive resistance at the 1150 level, so look for a flat week. In the next couple of weeks, there may be a retracement to the 1110 level. A break through the 1150 level on sustained volume would signal a probable resumption of the up trend which began in March of 2009. S&P 500 day trading course
