Market Analysis for Apr 20th, 2005

For today's Mid-Day Minute, Mike writes: INTC, CPI, API... alphabet soup... roiling the index so far this AM... Right now, we have a micro lid on the E-mini June S&P at 1158-1160, and a micro floor at 1150-1148... and alot of noise in between, which is why I am not too interested in "picking" a direction at this particular time. A break below 1148-1147.75 however, will interest me, because my work will point to downside acceleration to 1140. For the time being, let's just watch and wait for a higher-probability outcome than we are presented with a this moment. MJP 04/20/05 11:25 AM ET (1152.25)

For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary. Or try his QQQ 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!