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 in Bullish Coil Pattern


S&P in Bullish Coil Pattern
By Mike Paulenoff, www.MPTrader.com

Looking at the S&P 500 and its ETF the SPY via the 4-hour e-Mini S&P chart, we see that all of the action off the May 2 high in the e-Mini S&P appears to have morphed into a bullish coil pattern, which if accurate should resolve itself to the upside in a thrust to a measured target window of 1435/40 to complete the March-May upleg. At this juncture, only a decline that breaks and sustains under 1405 will begin to compromise the bullish technical set-up.

  • 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!