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.

Eyeing Emini S&P Support


The decline in the emini S&P 500 off this morning's high at 1173.75 violated very important near-term support at 1151-1150. This has triggered an initial downside follow-through to 1144.75, likely on the way to test more important support at 1135-1130 next.

If that support zone is violated and sustained, then we should expect downside continuation that revisits the 1090-1070 area, which will represent a retest of last Tuesday's lows.

On the other hand, if it turns out that today's weakness in the index so far is part of a topping process and the e-SPZ manages to claw its way back above 1150-1153, then we should expect additional strength into the 1162-11165 area prior to a more pronounced "rollover."

  • 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!