S&P

Here is an hourly chart showing regular hours trading in the March S&P e-mini futures.

Friday I thought that the market was about to break out above the 1300 level but this breakout failed to materialize.

After trading near Friday's close for almost four hours the market has finally broken to the downside on increasing volume. This is the third time it has reached the 1280 level and this time I think it will go through and reach support near 1275. From the latter level I think the S&P's will start a move above the 1300 level.