Tuesday, March 21, 2006

S&P


Here is an updated 15 minute bar chart of regular hours trading in the June S&P e-mini futures.
During the past half hour the market has climbed steeply on very high volume. It had dropped as low as 1310.75 this morning, not far from my estimate of support at 1309. Since I am still very bullish on this market, I think the message of the high volume advance from 1310.75 is that the drop from 1321.50 is over and that the market will soon reach the 1325-28 zone.

1 comment:

Anonymous said...

from "hot" to "cold" but don't worry this happens to all of us at some point.