Here is an hourly chart of the December S&P e-mini futures. I last commented on this market here.
The advance into the 1410-20 range is still in progress. As you can see the market has rallied sharply from Friday's low at 1379.25 and has put in a wide range up bar as today's opening hour. I expect the S&P's to hesitate below the 1395.75 top of October 26 but today I also think that support near 1388 will hold.
After the market breaks above 1395.75 I think it will quickly reach the 1402-05 range before a brief reaction sets in.
2 comments:
Noteworthy that there is a confluence for 1.272 from Friday's extremes marking with a pivot point at 1387.25
Yes, I must agree that I love reading your posts. Very good job with your predictions BTW.
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