S&P

Here is a 15 minute chart of the June S&P e-mini futures.

I don't think the drop from point ee is over yet. The swing from ee to purple point a does not have a three phase look to it and worse, the volume on the drop from ee to a was high and increasing. Morevover, the rally a-b-c-d has a clear, three phase look to it and occurred on low volume. It ended with a minor volume climax at point d.

I think the market is headed down from here, probably to support near 1297. Once this correction is complete I expect a move that will carry the S&P's to 1350 by the end of April.