Tuesday, May 30, 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 here.

I think the second phase of the upward correction from last week's 1246 low is underway. It will probably drop the futures to support around 1256. From there I will be expecting the third phase rally to carry to 1295 or so. Then the final drop of the downward correction from the May 5 top at 1331 should carry the market down to 1235 or so.

No comments: