Tuesday, November 15, 2005

S&P


Here is an updated hourly chart of pit trading in the December S&P futures.

The market is reacting from this morning's high but I think it will find support near 1228 (black line). At that level the reaction will match the length of the last reaction (12 points) and will have dropped to the level of the November 3 top which started a week long trading range.

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