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Mid-Day Minute with Mike Paulenoff
http://www.tigersharktrading.com/articles/234/1/Mid-Day-Minute-with-Mike-Paulenoff/Page1.html
By Mike Paulenoff
Published on 03/22/2005
 
After about 90 minutes of trading, the Qs tried and (so far) failed to hurdle critical resistance between 36.75 and 36.90.
Mid-Day Minute with Mike Paulenoff

For today's Mid-Day Minute, Mike writes: After about 90 minutes of trading, the Qs tried and (so far) failed to hurdle critical resistance between 36.75 and 36.90, which is "required" to trigger additional strength. However, ahead of the FOMC, we should not expect much fireworks in either direction. Purely from a technical perspective, if there were no FOMC meeting today, my work argues for more upside backing and filling ahead the next downmove, which is not a good reason to be long ahead of FOMC announcement at 2:15 PM ET.

MJP 03/22/05 11:10 AM ET 36.63

 

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.