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.

With oil prices under pressure and possibly headed to the mid to low 50's, perhaps the RETAIL SECTOR is on the verge of a serious uplift heading into the holiday season? Purely from a technical perspective, if the RTH can hurdle resistance in the 95-95.50 area, then expect upside acceleration to 97.00, which represents the 50% recovery level of the prior downmove, from the Stratmjp: Aug. high near 104 to the 90 low in Oct. A sustained hurdle of 97 will be extremely bullish, and will point to a run at 102-104. At this juncture, only a reversal of today's strength that breaks 93.50 will weaken the improving outlook. The heaviest weighting of a component of the RTH is WMT at 18.8%; the HD at 17.42%, both of which have very constructive chart patterns.

For more of Mike Paulenoff, sign up for a FREE 15-Day Trial to his E-Mini/Index Futures diary. Or try his QQQ Trading Diary, or his Macro Trading Charts.

  • 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!