Market Analysis for Nov 10th, 2005

Needless to say, the Qs finished a shallow pullback earlier today at 39.92, and then pivoted to the upside for a powerful thrust to new highs at 40.54, which my intermediate-term work indicates is the start of a new upleg that should hurdle the Dec '04 high at 40.68 on the way to 42-42.50. Only a sudden downside pivot reversal that breaks this morning's low at 39.92 will wreck the current timing of the expected new upleg.

For more of Mike Paulenoff, sign up for a FREE 15-Day Trial to his E-Mini/Index Futures diary. Or try his QQQ Trading Diary, or his Macro Trading Charts.

  • 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!