Market Analysis for Feb 3rd, 2005
Now that the E-mini March S&P has triggered micro upside reversal
signals when it hurdled 1189.00, the index has not exactly
rocketed to the upside... In fact, the lack of upside follow-
through is CONSPICUOUS by its absence, which warns
me that the pivot off of 1185.75 likely represents an
intervening rally within an INCOMPLETE corrective process.
In other words, the minor upmove will fail, and the e-SPH
will plunge to new lows below 1185.75 into my preferred
target zone of 1183-1180 prior to the REAL upside pivot
reversal emerges (after Employment?).
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