Inordinate Strength - Market Analysis for Feb 16th, 2006

I was hoping for a pullback to get long into a bit of weakness, but this upmove continues to exhibit inordinate strength up to this point as it makes new highs at 1286.75. At this juncture, the next target is a test of the 1/30 recovery high at 1291.50. Only a reversal and decline that breaks 1281.00 will begin to compromise the upmove.

Note: Mike is on vacation until Monday February 27.

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his Macro Trading Charts. Or try his QQQ Trading Charts or his E-mini S&P 500 Trading Diary.

  • 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!