S&P

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

Some aggressive selling came it at today's high, 1393.75, and has pushed the market down to support in the 1387-88 range. Normally this sort of wide range, "outside" bar coming near an old high (1395.25) would be a bearish indication and mean that at the very least the market would be headed for its last low at 1380.25.

But top-pickers have been hard at work throughout this 5 month rally and have yet to be successful. Moreover, my short term view is bullish so I shall expect support to hold and look for the next swing to carry up to 1399.