Monday, June 12, 2006

S&P


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

In this morning's guesstimate I said that I expected the market to drop into the 1250-55 zone and then rally to 1282. So far this morning the market has dropped as low as 1256.50. I think I see signs that we won't make it even to 1255. So I am now assuming that the low for the day has been made and that the market is headed for 1282.

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