Tuesday, April 04, 2006


Here is a 15 minute chart of the June S&P e-mini futures. It is a magnified version of the chart I discussed yesterday afternoon.

I still expect the market to move to 1293 or so before the rally to 1328 resumes. If I am right about this I think the rally from this morning's low (red cc-dd) at 1302.50 is now complete. It has a classic three phase structure and the high bar on the five minute chart (not shown) was a volume climax.

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