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.

Euro Nearing Test of Key Support


The euro continues to press lower, but let’s notice that the price structure is nearing a test of important support along the March-October up trendline, now at 1.4680, which must contain the weakness to avert a press to test the rising 50 DMA, now at 1.4625. If dollar strength, commodity weakness, bond strength and equity weakness remain connected at the hip, then the results of the test of major trendline could have extremely significant near- and possibly intermediate-term consequences. The ETF for the dollar is the PowerShares DB Dollar Index Bullish (NYSE: UUP) and for gold is the SPDR Gold Shares (NYSE: GLD).

  • 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!