S&P 500 - April 7, 2009 - Before Market Open

This is a continuation of the 5-minute chart f SP June contracts that I showed yesterday.

Seems like my call for, at least, some more short-term weakness was a good one.

So much can happen in the future market and sometimes, it presents a different wave picture than the cash index. The action since Friday's close has been a good example of that.

Sometimes, we get a tip off during the regular hours like yesterday's choppiness in the afternoon. And sometimes, we don't.

Now everything might change and, and future market may rally hard by the time cash market opens, so much so that nobody feels any difference, or it might not.

It is a level of complexity that is there - just to make money in the market a bit harder :-)