      As a forecasting tool, many traders analyze closing premiums topredict when major market moves will occur. As a rule of thumb, relativelylarge premiums over four to five days or more reflects market bullishnessand is viewed as an indication of an upside breakout. Inversely,consistently low premiums are a bearish indicator. Because premiums decayover time and will equal zero at expiration (when the futures contractequals the cash index), a downward slope in premium is normal over time.When the futures contract gets within three weeks of expiration, thepremium is so small that it becomes a relatively uninformative forecastingtool, and most traders will begin looking to the next contract for"advice."