Wednesday, May 03, 2006

S&P


Here is a 15 minute bar chart showing regular hours trading in the June S&P e-mini futures.
I last commented on this chart here.

The Bartiromo shakeout low at 1311.50 was tested a short while ago and I think it will hold. If I am right then the market should soon begin a move to 1350.

If contrary to my expectation the market shows weakness below 1311.50 then it will be on its way to 1300 and quite possibly to 1290.

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