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.


Around the time of my last update, the December E-mini S&P was attempting to hurdle important micro resistance at 1138.50, which turned out to thwart the intraday upmove from 1133.50. Now the index is back in the middle of today's relatively narrow range, which itself is in the middle of a 3-day congestion area. In that all of the action off of Mon.'s high at 1141.25 is messy and nondescript, I have little doubt that it is part of a sideways digestion pattern that should resolve itself in another thrust to the upside WHEN IT IS FINISHED. The problem is that I don't think it is finished yet- and may have to press the E-SPZ into the 1130-11128 area before renewed buying interest emerges...... With that in mind, we will continue to watch from the sidelines.

For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary at. Or try his QQQ Trading Diary.

  • 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!