Mid-Day Minute with Mike Paulenoff
http://www.tigersharktrading.com/articles/1135/1/Mid-Day-Minute-with-Mike-Paulenoff/Page1.html
By Mike Paulenoff
Published on 08/29/2005
Mike Paulenoff writes that the recovery rally in the Qs has returned the stock to Friday's closing levels.
Mid-Day Minute with Mike Paulenoff
So far, the recovery rally in the Qs has returned the stock to Friday's closing levels (38.50), but has not managed to propel it above critical micro resistance at 38.60/70. Until the Qs hurdle and sustain above 38.70, the bears still remain in control of micro and near-term market direction. For the time being, we will continue to watch from the sidelines.
MJP 08/29/05
Mike Paulenoff is a 25-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his E-mini S&P and QQQQ technical analysis and trading alerts. For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary, or try his QQQ Trading Diary.