Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, October 24, 2005
Onward and Upward
After an afternoon pause the S&P futures have resumed their advance. The updated hourly chart above of the December contract now shows two consecutive higher tops and two consecutive higher lows. Combining this with the strong showing of the advancing issues number and the excessively bearish market sentiment leads me to now conclude that the October 13 low at 1172 will hold and that the market has started its rally to 1350.