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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EUR/USD [caption id="attachment_791" align="alignnone" width="300" caption="FXDMG"][/caption] Good Afternoon / Morning / Evening or what ever your time zone... I thought I would show you a 4 hour chart with pivot points on it. It has just updated from the last bar and you can see that it can be very helpful if you are looking for Support & Resistance levels. There are many web sites that offer a free calculator for these levels, and the one that I use is at http://www.dukascopy.com/swiss/english/marketwatch/pivot/ They show the Pivot, Woodie and Fibonacci on the same window. Hope this is helpful. P.S. Nice retrace since opening. $$$$$ in the bank. FXDMG

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