Here is an hourly chart of the December S&P e-mini futures. I commented on this market earlier today.
I think the market will bounce off of resistance in the 1386-87 zone but I also expect it to find support at 1378 or a bit higher. The support level is just above the last high on the way down to the 1365.50 low which stands at 1377.25 and also coincides with the low of the hour just following the wide range breakout hour this morning.
I doubt that any reaction at this stage of the upmove will last more than a couple of hours. I still expect to see the S&P's trade in the 1410-20 zone within a couple of weeks.
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