Here are hourly charts of the September e-mini futures, the Spiders, and the QQQQ's. I last commented on these markets here.
After testing their June 7 daytime lows early this morning these markets have rallied toward the highs of their recent trading range. I now think today's rally is the first day of a two day rally that will be the third phase of a three phase corrective move up from the June 7 low. I think the S&P futures will reach 1535, the Spiders will reach 152.50 and the Q's 47.30. After this rally ends I shall be expecting the resumption of the move to the 1470, 145.50, and 45.50 targets respectively.
Once the correction from the June 1 high is complete I expect all three markets to rally to new bull market highs.