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Daily Minute with Mike Paulenoff for February 1
http://www.tigersharktrading.com/articles/2605/1/Daily-Minute-with-Mike-Paulenoff-for-February-1/Page1.html
By Mike Paulenoff
Published on 02/1/2006
 
Mike Paulenoff writes that today's coil in the E-mini S&P 500 continues to converge into the apex of the pattern between 1285 and 1280.
Daily Minute with Mike Paulenoff for February 1

Today's coil in the E-mini S&P 500 continues to converge into the apex of the pattern between 1285 and 1280. The larger pattern from early January argues for a resolution to the upside, and a potentially powerful upmove to new highs above 1301. Conversely, a break below 1280 will be an initial signal of upside failure, while a break below 1276.25 will be signal a confirmed failure on the upside, and a plunge initially towards the 1/25 low at 1262.25. Right now, my work leans to an upside resolution.

MJP 02/01/06



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.