Monday, August 29, 2005


Here is an updated hourly chart of pit trading in the September S&P futures. Last night the market dropped as low as 1194.20 in electronic trading but as you can see it opened this morning in Chicago right at the 1/2 point of its current box at 1202.

I think the market has begun an uptrend which will carry it to the top of the next box around 1268, and eventually much higher than that.

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