Tuesday, October 03, 2006

S&P Update


Here is an hourly chart of the December S&P e-mini futures. I commented on this market earlier this morning.

I have concluded that my interpretation of the markets early action was not correct. As you can see the market has moved more than 4 points back above the 1340 level and did so on a wide range hourly bar. I now believe that the move to 1360 has started and that the 1336 low this morning ended the drop from 1350.

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