Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

S&P 500 Pressing Against Support


S&P 500 Pressing Against Support
By Mike Paulenoff, www.MPTrader.com

The S&P 500 Depository Receipts (AMEX: SPY) have managed to hold above 125.00-124.25 during every dip during the past two weeks. However, as we speak, the SPY is pressing against the top of that support range, which must contain any forthcoming weakness to avert serious pattern deterioration thereafter. A break of 124.25 should trigger a press towards the July low support and low area.

  • 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!