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.


After some wicked volatility after the Chicago Purchasing Managers report and (to a lesser extent) after the API stats were released, the Qs have managed to grind their way back to test important micro resistance at 38.74, which if hurdled should trigger additional strength into the more formidable resistance plateau at 38.90. If 38.90 is hurdled, the Qs likely will thrust towards a confrontation with the August 22-24 double-top at 39.18. At this juncture, only a plunge below 38.50 will weaken the developing recovery rally pattern.

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!