Orderly Pullback - Market Analysis for Jun 16th, 2006

So far my work argues that this morning's weakness is an orderly pullback -- almost muted in a way -- after yesterday's explosive advance. My work points to weakness into the 38.00 area prior to a resumption of strength that propels the Q's above yesterday's recovery high at 39.09 towards my next optimal target zone at 39.50/60. At this juncture only a decline that breaks below 37.50 will begin to compromise my current outlook.

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his new ETF Trading Diary -- a combination of his diary services.


  Matched
x
  • 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!