Friday, May 05, 2006


Here is a 15 minute bar chart showing regular hours trading in the June S&P e-mini futures. I last commented on this chart yesterday morning.

I think the market is staging a high volume breakout above the 1325 top-of-the-trading-range. This level now will be support. I expect to see the market at 1350 soon and I suspect it will go quite a bit higher than that before a break of more than 5% materializes.

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