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.

In electronic trading after the employment number this morning the market reached the 1294 level (not shown on this chart), just shy of 1295 resistance. I think we will trade between resistance at 1295 and support at 1281 for a day or two. I expect the market to break lower out of this projected trading range and reach the 1235 level. After that the bull market should resume and carry the S&P's into the 1350-1400 range.