Today: The S&P futures are in the eighth day of buystalk, and have been very
cooperative with the technical condition, basically advancing each day.
Yesterday was an outside day up, and is a bullish formation, and briefly traded
above the longer term 1141.75 “heavy” line, however did fall back just as
abruptly as it did bound through there. The index seems prepared to trade
higher, and I believe that the 1148.00 “off-hour” high print of this move is going
to be confirmed and bested. At this point we will have to monitor the longer
term chart, and watch for the buystalk condition in that time frame, otherwise it
could remain vulnerable to that 1141.75 “heavy” line, subject then to a revisit.
This morning’s trade is centering around 1139.75, and as long as above there,
a bullish sentiment should reign, and then use 1138.75 as the support guard,
but if below there, the index will want to go down and check the formidable
1135.50 support area. It,s that dual level that should direct traffic and
sentiment. The high print 1145.25, will now act as resistance. Note also that
we will roll tomorrow, and the June contract is trading about five handles below
the March, so if we do not take out the highs today, pricing wise the 1143 area
will be the new goal to get through.

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