Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.


Bounce in an Incomplete Downleg
By Mike Paulenoff, MPTrader.com

After last week's basically sideways action and despite Wednesday's massive upside rally that most everyone thought would lead to upside continuation and the establishment of a significant low for the February-May declines, surprise, surprise, the markets gapped down in a big way this morning. They made new reaction lows for their declines, and suggested, to me anyway, that the downtrend is still very much alive and well and dominant.

In the E-mini June S&P, for example, while the Nasdaq indices did make new lows, the E-mini S&P tested last Wednesday's low, which was at 1075

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!