Here is an hourly chart of pit trading in the March S&P futures.
The market didn't quite make it up into the 1295-1300 zone this morning and the first hour break makes me think the market will stay below 1290 the rest of the day and react to 1283 or so and possibly as low as 1276. In any case I still think the big opportunities here are on the long side and that the market will soon be trading near 1320.
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