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.


Two hours later, and we find that the action since 11:30 AM ET has remained within the narrow intraday range between 1161 and 1166.25 on the June E-mini S&P. An upside hurdle of the intraday double top at 1166.25 should trigger a test of more important "neckline" resistance at 1169-1170, which also represents the breakout area of the inverted Head and Shoulders pattern that has developed since last Thurs. Conversely, a break below 1160 should trigger a press towards 1155, which will jeopardize the base-like pattern. Right now, the bulls are attempting to challenge the 1166.25 area for a third time today. MJP 05/17/05 1:25 PM ET 1165

For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary. 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!