Wednesday, August 30, 2006


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

I think the market will soon hit the 1315 level. A reaction will probably begin next week. I expect it to be a little smaller than the early August break which was about 35 points. My best guess is that the market will drop from 1315 to 1291 or so. After the correction I expect a renewed rally which will continue to new bull market highs above the 1330 level.

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