Market Analysis for Sep 2nd, 2004
For today's Mid-Day Minute, Mike writes: As per my preferred scenario, which called for an upside resolution to the week-long coil pattern, the bulls have managed to pop the index above the double (triple?) top at 1109.75 on the way to my next measured target zone of 1112-1115. Right now, the E-mini Sept S&P is at 1112.75 ... Let's see if we get some sort of pivot reversal during the final hour of trading that provides us with initial clues that the upmove is complete and that a corrective-pullback is underway that will press the E-mini Sept S&P back to the 1100 zone (for starters) in the subsequent hours.
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