For today's Mid-Day Minute, Mike writes: Well, here we are again probing significant resistance between 1182 and 1184.25 (which surprises me) on the E-mini June S&P.  Nonetheless, we have to wonder whether or not today's upside loop represents another sucker's rally that will trap the bulls just like yesterday.  Or am I the sucker, because I have not jumped on the long side of this move? It will not be the first time the index makes me look like a sucker, but that aside, my work tells me to stay away, or remain in a small short position, at least for a while longer.

MJP 03/30/05 12:40 PM ET (1181.00)

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.