Tuesday, November 29, 2005


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

As you can see the market has come down a second time to the 1260 support level and I think it is in the process of making a low above yesterday's low at 1258.80. This means that the market will soon start a move up into the 1285-90 zone, just below the 1/2 division point of the next box at 1290.

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