Market Analysis for Mar 2nd, 2004

Sloppy Pattern Continues
By Mike Paulenoff,

We have an interesting situation developing because in overnight trading into Tuesday morning, the E-mini S&P, which hit a high overnight at 1157.50, really looked like it had created a bull flag pattern that would resolve itself in a pop to the upside. Well, we got a pop to the upside in the first part of the day, but that rally hit a high of only 1156.75. Yesterday's high was 1157.50, so after it hit that high, it then reversed to the downside and plunged to 1149.

So what we're faced with is that sloppy pattern I've been talking about since last Tuesday's low at 1133

  • 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!