Market Analysis for Jun 10th, 2005

Here is a look of the E-SPU at the end of the futures session. Today's action may have failed to accelerate above resistance at 1208.50, but the mid-session weakness did not break critical near-term support at 1196.25, which would have reversed my "polarity" to an outright bearish position. So, where does that leave us? In neutrality ... but with a bullish bias, until or unless the index breaks 1196.25.

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