Monday, November 20, 2006

S&P


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

The market rallied back to 1408 this morning but now has put in a wide range down bar. I think this means that the market is headed back down into the 1396-98 support range.

I still think that the market will soon rally to 1418-20 resistance.

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