Tuesday, November 07, 2006

S&P Update


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

I don't have anything new to say. The market has bounced off of resistance near 1392.25 but I don't expect it to go much lower than the 1383-84 range before the rally resumes.

We will probably see a fair amount of volatility tonight and tomorrow morning as the market digests the incoming election results. I doubt that any such news will affect the upward direction of the trend.

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