Here is an hourly chart of the December S&P e-mini futures. I last commented on this market yesterday.
The market has dropped past the 1369-70 support zone I mentioned in this morning's guesstimate. I now think it will continue down to 1365 or so. At that point the drop from yesterday's high will roughly equal the size of the last reaction from 1363.25 to 1351.
From 1365 I shall expect a rally of 7-10 points followed by the rest of the correction down into the 1350-55 zone.
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