Here is the pattern carved out by the E-mini S&P since the 8/28 "Katrina low," as well as the pattern off of last Thursday's low at 1235.75. Key micro support resides at 1243.25/00, but as long as 1235.75 remains intact and viable as the prior significant pullback low, my work will remain near-term bullish, pointing to a run at the 7/29 high at 1255.25.

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.