Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Wednesday, September 21, 2005
Another Thought on the S&P
After I wrote the last post I realized that there is in fact a well defined downtrend box nearly 20 points wide in the December S&P. This box is delimited by the blue lines on the chart above and the bottom of the second box in the downtrend is at 1211.
I think the market will make a low above the Katrina low (1194 electronic and 1202 pit) so I am leaning towards the view that the low will occur at 1211 rather than 1202 for this reason.