Monday, April 12, 2010

S&P 500 Emini Day Trading Gap Tuesday April 13, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2184" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Tuesday April 13, 2010"][/caption] S&P Emini 500 Futures traded in an extremely narrow 5 point trading range today.  Volume  was light at 1.25 million contracts.  Direction is still up, but shows a great deal of weakness with the lack of volume.  The index may still test 1200, but expect strong resistance at that level.  The daily averages are moving in a bullish sweep on the daily chart with volatility constricting.  It still looks to correct to the downside sharply after a test of the 1200 level.

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