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.

Has the SPY Ended Another Correction?


The sixty-four thousand dollar question is, “What is this strength in the SPDR S&P 500 (SPY)?

Is it a pause in a budding downtrend, or the start of a powerful rally that will rocket the index right back to the high?”

The answer to that question is, "I am not sure (yet)”.

The one thing I am sure about is that if the SPY breaks and sustains beneath 183.60, the next time down, it will be vulnerable to plunge to 181.00 to 180.00 in a hurry.

That will lock in the mid-Feb to Apr timeframe as a completed and meaningful top formation.

Otherwise, as long as today’s low remains intact, a recovery rally to 186.00-187.00 cannot be ruled out.

  • 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!