CBOT SP500 Futures : Looks like a correction is imminent
February 15, 2011 Leave a comment
CBOT S&P 500 Futures, (ES0Y) on the hourly chart looks as if it may be up for a much needed correction. However for downside momentum to build it needs to break below 1324. Currently at 1326.50, there is support at 1320 and more significantly at 1314 to 1315.50. Unless a swift reversal takes place and it trades strongly above 1328.50 we suspect the US markets will post a corrective candle at long last tonight.