Tuesday, July 18, 2006


Here is an hourly chart of the September S&P e-mini futures. I last commented on this chart here.

In this morning's guesstimate I said that the 1232 level should be support today and as you can see the market made a low at 1231 this afternoon and has since rallied. I now think that the move up will continue to 1257 or so and will be followed by another break to the 1219 level. Strength above 1257 will mean that the move to 1350 which I am anticipating is underway.

No comments: