20070927 ES daily chart consolidates after the breakout out of range trade.

E-mini S&P 500 chart

20070924 Last week's 50 bp cut in the Fed Funds rate proved to be the catalyst to propel the ES Dec 07 futures out of its range trade. After a breakout, typically the market will come back to retest the breakout zone, to shake out those who jump on board of the breakout.

E-mini S&P 500 chart

20070907 A big drop in the ES today. But to me, it looks like the emini S&P 500 futures is scribing a range trading zone.

E-mini S&P 500 chart

20070904 ES (emini S&P500 futures) is testing the resistance areas of the longer term moving averages. Needs to get above to get any momentum going on the upside.

E-mini S&P 500 chart