S&P

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

The market has reached the intial resistance level at 1255 which I mentioned in this morning's guesstimate. My best guess now is that we will see a reaction down to 1244 or so followed by a rally to 1266. This activity in turn is part of what I think is a bigger rally to 1282.

I think yesterday's 1229 low will hold and that we will see the S&P above 1350 this summer.