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.


Well, the bulls tried the upside this AM, and failed to accelerate the index after hurdling the 1224.50 resistance level on the E-mini S&P. At that time, the bears wrestled control away, and attempted to crack the lower side of this week's range-- in the 1216.50-1215.25 support zone. But so far, the lower support zone has contained the damage, which has turned the price structure back to the upside into the middle of the range. What now? My work continues to lean towards a probe and break of the lower support zone, however, a rally that hurdles 1225.25 will invalidate the bearish scenario in favor of a thrust to the 1230 area. MJP 06/22/05 1:35 PM ET 1219.75/50

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!