S&P 500 Consolidating

From an intraday perspective the S&P 500 emini futures contract appears to be consolidating or triangulating around the 912 level, ahead of one more pop that projects to 920-922 prior to a resumption of the dominant near-term downtrend.  Such is my preferred scenario for the recovery bounce off of yesterday’s low at 899.25 – levels that ETF traders of the SPY and SDS may want to keep an eye on.


  • 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!