S&P

Here is a 15 minute bar chart of regular hours trading in the June S&P e-mini futures.

The market held support at 1282 as I had expected. This morning's first hour was a downside volume climax but note how the volume stayed very high on the subsequent rally. This is a very convincing sign that much higher prices lie ahead.

Right now I estimate minor support at 1287.50. The market has rallied to yesterday's high so a small, three phase reaction down to this support would be normal. I think the S&P futures are headed for 1325 on this swing.