Monday, November 28, 2005


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

I think the reaction from 1273 will be about as big as the previous three reactions which were 10-12 points each. So the first support I see is 1260-61. If the market proves to be weaker than I think the worst I see on the downside is 1256.

After this break is over I expect to see a move up to the top of the next box at 1310 with temporary halts at 1282 and 1296.

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