S&P Futures Still Above Key Support

05/14/2009 11:05 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

The June S&P futures are trying to hold the initial support in the 880 area and the hourly chart shows stronger converging support in the 860-870 area. The daily technical studies are still positive, suggesting this is just a correction in an uptrend. Key resistance is at 925, and if overcome, should start a short squeeze.

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