Market Analysis for Apr 19th, 2005

For today's Mid-Day Minute, Mike writes: As we enter the afternoon session, the e-SPM remains coiled between support at 1151/50, and resistance at 1154.50-1155, which has the look of a sideways continuation pattern atop the upmove from 1135.75 to 1155.00. If that proves to be the correct interpretation, then let's expect one thrust out of the pattern into a measured target zone of 1157.50-1159.00 to END the upleg from 1135.75.. which is why I am chosing not to participate in this move. MJP 04/19/05 1:35 PM ET (1154)

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