Monday, December 04, 2006

S&P


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

The rally off of the Friday afternoon low at 1387.50 has been a vigorous one. I think the market has started its move into the 1418-20 zone. (NOTE: when we switch into the March '07 contract the target zone will be 1430-32 because March is trading about 12 points over December).

Today I think the S&P's will find support near 1399, just a tad below Friday's close at 1400.25.
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2 comments:

  1. Andrew Wright12/04/2006 01:51:00 PM

    Hi Carl,

    Fantastic work you do here. I wish I had half your knowledge on the subject of forecasting.

    Where do you see the market going after it hits 1418-1420 resistance???

    Thanks again,
    Andrew

    ReplyDelete
  2. Anonymous12/04/2006 03:09:00 PM

    Hi Andrew, pls check tradertim's blog, he'll tell you it's going DOWN!!!

    ReplyDelete