Market Analysis for Jun 2nd, 2005

Heading into the final two hours of trading my work argues that the E-mini June S&P continues to consolidate its gains from yesterday's surge from 1192 to 1207 ahead of another thrust that should propel the index to new recovery highs in the 1209-1212 target zone. At this juncture only a decline that breaks below 1198.50 will neutralize my bullish near-term outlook.

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