My longer term work is "warning" me that this week's strength in general, and the pivot off of yesterday's pullback low at 1235.75 in the e-SPZ could be the beginning of an extremely powerful upmove that has much higher to climb in the upcoming days/weeks. Why? What are the fundamental reasons that will support such a move? Who knows? All I can tell you is that with today's strong action, the potential has greatly increased for a vertical upmove into the end of the year.  Have a look at my updated weekly chart analytics of the SPX.

MJP 9/8/05

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.