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.

ES Bulls Missed Chance to Inflict Pain on Shorts This Morning

ES (Emini S&P 500) popped to a new post-Trump victory high at 2185.00, taking out last Thursday's high at 2180.50, but, thereafter, failed to follow through to the upside, leaving a minor bull-trap high in place.

As long as 2157 support contains any forthcoming weakness, the Trump-upleg pattern will remain constructive.

However, a sustained break of 2157 will begin to weaken the pattern, and will point to a revisit more important support at 2148.75-2147.75.

  • 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!