S&P 500 Emini Day Trading Gap Tuesday February 9, 2010

                                  S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Tuesday February 9, 2010

S&P Emini 500 Futures opened right at Friday's close, so, no gap today.  The index traded mostly sideways in a 12-14 point range, and closed at the bottom of the trading range at 1054.00, off 8.25 points.  The charts still look bearish on the daily charts, and today's sideways action on average volume did not dispel that perception.   It's hard to tell what bearing today's action will have on the rest of the week.  The current sideways action on lower volume suggests a possible bounce may be forthcoming.  Look for a retest of the 1100.00 level, then a drop down to support at 1020.00, the 200 ma, over the next few days.

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