![](http://photos1.blogger.com/x/blogger/3426/1040/400/731306/020707%20qqqq.jpg)
![](http://photos1.blogger.com/x/blogger/3426/1040/400/376083/020707%20spiders.jpg)
![](http://photos1.blogger.com/x/blogger/3426/1040/400/184939/020707%20sp.jpg)
Here are hourly charts of the March S&P futures, the Spiders, and the QQQQ's. I last commented on these markets here.
After an early reaction all three market broke out above their recent highs, the S&P's and Spiders reaching new bull market highs. But the breakout was an unenthusiastic one and the market got very narrow at its highs. This afternoon we saw a break which carried all three markets back to the low of this morning's wide range breakout bar.
I think the low of this breakout bar will prove to be support, especially since at that level the S&P's and Spiders have dropped as much as they did during the reaction yesterday.
I expect the advance to resume in all these markets tomorrow.
2 comments:
carl, enjoy your blog a lot.. should you ever have time might you analize the russell futures.thx jm
Good call, Mike.
Everyone has some value to add
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