Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Thursday, December 29, 2005
S&P
Here is an hourly chart showing pit trading in the March S&P fututures.
The market has held support at 1264 for the past three days but late this afternoon has accelerated below that level. I think this means that the S&P's are headed for the 1/2 point of the next lower box at 1246.
My own view is that we are seeing selling by those who anticipate a January break. However my own guess is that the market will make a low early in January and rally for the rest of that month.
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1 comment:
what is the deepest acceptable low price for the bull market move toward 1350 in the SP500 to still be in tact?
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