Tuesday, September 05, 2006


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

In electronic trading Sunday night the market hit the 1315 short term upside target and Monday rallied as high as 1316.75. In regular hours trading today we saw a modest reaction to 1310 and now another rally has begun. My best guess is that the market will make a high today near 1319 and then begin its break to 1291.

1 comment:

Anonymous said...

Hello Carl,
Thank you for your nice comments.
I think as yesterday we had a rough DT, today we may see a sharp fall and new highs that in this case must break the DT resistance is not very likely. I think the bottoming day will be Friday. I don't know your reasoning but maybe you see something that I could not see.