I think that the September S&P futures are about to turn upwards and run up to the 1245, the 1/2 point of the next box. The hourly chart above shows that the reaction which started from the 1225.20 level stopped just shy of the 1191.90 where it would have equalled the biggest break in the uptrend from 1135.80.
If I am wrong in this assesment then I think the market will drop to the bottom of the box near 1180 and then rally to 1245.
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