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.

The Recovery Rally Continues After All

As of this moment, the recovery rally off of yesterday's unconfirmed corrective low at 1624.75 remains intact, and still the dominant extreme near-term influence on the Emini S&P 500 (e-SPU).

This morning's swoon to 1627.75, followed by a sharply-upside reversal, now satisfies the criteria for a successful retest of yesterday's low at 1624.75.

Based on our discussion of the likely counter-trend rally price path late yesterday, the "blue dotted line" on the attached chart remains valid for upside continuation into the 1650/58 target zone prior to increasing likelihood of a resumption of the larger, dominant downtrend off of the Aug high at 1705.

  • 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!