Wednesday, October 19, 2005


As you can see from the updated hourly chart above this post the December S&P futures made a higher low this morning and higher lows are typically followed by higher highs. In this instance I expect continuation up to 1199. As I mentioned in this mornings guesstimate, if this rally should go further, say to 1206, I would conclude that last week's low at 1172 ended the drop from the 1250 high.

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