Wednesday, October 04, 2006

S&P


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

The market held 1340 support in early trading today and I think we shall see a 1360 print by the end of the week. By year end I believe the S&P's will have reached the 1400 level.
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2 comments:

  1. Anonymous10/04/2006 07:37:00 PM

    On friday, 30 June, you wrote: "This would be about a 20% drop from the projected top near 11900." So, we're at the top. Or are we? If we're not, what in your analysis has changed?

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  2. Carl Futia10/05/2006 08:48:00 AM

    I still don't see enought bullish sentiment to indicate and important top. When I predicted 11900 I t hink I also said that the rally would continue into late November. Moreover, my target for the S&P is 1415 or so.

    All in all it now looks like the Dow will rally to 12500 before a big reaction sets in.

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