Tuesday, June 05, 2007

S&P's, Spiders, and QQQQ's

Here are hourly charts of the June S&P futures and of the QQQQ's. The chart of the Spiders looks just like the chart of the futures if you divide the futures price by 10. I last commented on these markets here.
I think the S&P's are on their way to 1519 or so and that during that time the Q's will drop to support around 46.70. The next move up should carry the S&P's to 1555, the Spiders to 155.50 and the Q's to 49.00.

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