Wednesday, June 21, 2006

S&P Update

Here is a 15 minute chart of regular hours trading in the September S&P futures. I commented on this market about an hour ago.

As you can see the S&P's have moved visibly above the 1263 level and this forces me to abandon the 1238 downside target. I think we are headed for 1282 and that we shall see much higher prices than that over the next couple of months.

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