S&P

Here is a 5 minute bar chart of the December S&P e-mini futures. I last commented on this market here.

The break from yesterday's high at 1395.25 has so far just about equalled the size of the last two breaks and has ended at a higher low. The market gapped downward this morning and then even more selling pressue developed. But the whole selling squall ended in 20 minutes. Since then there are two higher lows visible on the 5 minute bar chart.

I think this market is now headed for 1398 and from there it will begin the 20-30 point break I am anticipating. Remember that 1398 was the high print this past Sunday night.