Market Analysis for Sep 8th, 2005

Here is the BIG picture of the Dec E-mini S&P, the new front contract month. The rally off of the Katrina low at 1200.50 into yesterday's high at 1244.50 has the "right look" of a completed upleg. If that proves to be the case, then today's minor weakness started a pullback period into the 1232 to 1225 target prior to the next rally effort.

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